Dáil Éireann Debate, Tuesday - 13 November 2012
217. Deputy Pearse Doherty asked the Minister for Finance the salary paid to the Chief Executive Officer of Irish Life; if he will provide a listing and quantification of any additional benefits paid; and in respect of any expenses allowance if he will confirm if such allowances are paid only in respect of vouched and receipted expenditure. [49505/12]
Amharc ar fhreagra218. Deputy Pearse Doherty asked the Minister for Finance if the Chief Executive Officer of Irish Life is employed on a temporary contract; if so, the date on which this contract was entered into; the termination date of this contract; if he will quantify any termination payments provided for under the contract. [49506/12]
Amharc ar fhreagra219. Deputy Pearse Doherty asked the Minister for Finance if the Chief Executive Officer of Irish Life is employed on a continuing or permanent contract; and if so if he will quantify any termination payments provided for under the contract. [49507/12]
Amharc ar fhreagraI propose to take Questions Nos. 217 to 219, inclusive, together.
The salary and benefits of the Chief Executive Officer (CEO) were fully disclosed on Page 62 of the 2011 Annual Report of Irish Life & Permanent Group Holdings plc which is available at www.permanenttsbgroup.ie. In summary the CEO of Irish Life & Permanent who has been CEO of Irish Life since it’s separation in June 2012, received a salary in 2011 of €500,000 and other remuneration of €86,000.
I have been informed that the policy of Irish Life is that CEO expenses are only paid in respect of vouched expenditure and that this is provided for in the CEO’s contract. I have also been informed that the CEO has a permanent contract and that no termination payments are provided for in that contract.
The Deputy should also be aware that the current CEO will be retiring shortly and that a search for a new CEO has been ongoing, internally and externally, for several months. Irish Life & Permanent Group Holdings made an announcement in this regard on 26 June 2012.
