FBD chief Fiona Muldoon receives €449,000 pay package

Former chief Andrew Langford got €594,000 pay package last year, report shows

Fiona Muldoon: FBD chief executive  received a salary of €360,000, pension contributions of €60,000 and benefits of €29,000.  Photograph: Cyril Byrne

Fiona Muldoon: FBD chief executive received a salary of €360,000, pension contributions of €60,000 and benefits of €29,000. Photograph: Cyril Byrne

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The chief executive of FBD received a remuneration package worth €449,000 last year, according to the insurance provider’s annual report.

Fiona Muldoon, who was appointed interim chief executive in July and group chief executive in October, received a salary of €360,000, pension contributions of €60,000 and benefits of €29,000.

Andrew Langford, who resigned as chief executive of FBD last July, received a total remuneration package of €594,000 last year. He was paid a salary of €257,000, pension contributions of €49,000, benefits of €19,000 and pay in lieu of notice totalling €269,000.

FBD group finance director Cathal O’Caoimh was paid a salary of €195,000, pension contributions of €36,000 and benefits of €29,000. A bonus of €37,000 was also awarded to him for the successful completion of a strategic project, bringing his total remuneration to €297,000 last year.

Mr O’Caoimh was appointed interim finance director in August, just five months after he left his full-time role with the company.

The company, which reported losses of €84.3 million in the 12 months to December 31st 2015, decided no annual performance bonus would be paid to the directors.

The insurance provider’s nine non-executive directors were paid a total of €432,000 in fees. Eddie Downey, former president of the Irish Farmers’ Association, was paid €40,000.

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