I propose to take Questions Nos. 62 and 70 together.
As I have stated in reply to previous questions on this subject, I am keen that a successful outcome regarding the appointment of a new CEO at AIB is achieved shortly as that bank is a fundamental part of the announced Government strategy to restructure the banking sector and any proposed appointee would play a pivotal part in this process. Additionally, I am anxious that the situation whereby the Executive Chairman of AIB combines both positions of Chairman and CEO is resolved.
The Executive Chairman of AIB has kept my Department apprised of developments in the search for a new appointment.
I have, within the last few days, received a formal proposal from AIB for a remuneration package for the post of CEO which includes a request for a base salary to be paid in excess of the Government agreed cap of €500,000.
However, it is the view of the Government that a compelling case would have to be made for the Government to consider setting aside this cap taking account of the recent decision on the pay ceilings for CEOs of Semi States and Senior Public Sector posts and the need for social solidarity to be shown by all individuals and sectors for the good of the nation and its recovery from the present challenging circumstances.
I will examine the AIB request in that context.