herald

Wednesday 15 August 2018

Editorial: Why did it take so long to cut bonus?

DUBLIN Airport Authority chief executive Declan Collier has decided to "forego" his €106,000 bonus after unprecedented Government pressure.

The DAA said its board had approved the "performance-related payment" for 2010 based on the achievement, as per his contract, of "rigorous" performance-related targets last year.

It said that in the "light of prevailing national economic circumstances", the board and Mr Collier had agreed to defer payment until the termination of his contract.

The decision means Transport Minister Leo Varadkar and the Government have faced down the first test of their policy to drive down wage levels across the semi-Sate sector -- before he gave up the bonus, Mr Collier's total pay package for 2010 totalled more than €600,000

Why did the DAA board approve the massive bonus in the first place and why did it take so long for a decision in line with Government policy in a company 100pc owned by the taxpayer?

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