David Drumm - Apology


In The Irish Timesof Friday February 25th we erroneously reported that the former chief executive of Anglo Irish Bank, David Drumm had paid €10,000 tax on €10 million income as chief executive of Anglo Irish. This was incorrect as was pointed out in a more detailed article published on Saturday February 26th.

We accept that the conclusion in the article was not a valid interpretation of Revenue documentation from which the figures were gleaned and that Mr Drumm's appointment to the board of the bank did not change his approach to paying tax nor was he involved in aggressive tax planning.

The Irish Timesapologises to Mr. Drumm for having published this information which was due to an erroneous interpretation of Revenue documentation.