Fergus O'Dowd (Louth, Fine Gael)
Link to this: Individually | In context | Oireachtas source

186. To ask the Minister for Finance further to Parliamentary Question No. 434 of 11 September 2023, if he can clarify if bonuses are permitted for semi-State companies (details supplied); and if he will make a statement on the matter. [41429/23]

Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

Remuneration, including discretionary performance related payments, are matters for the Board of Strategic Banking Corporation of Ireland (SBCI) in accordance with its commercial mandate. The SBCI advise that discretionary performance related payments are intended to reward exceptional performance, having regard to the individual’s own performance and the overall performance of the SBCI.

The payment of performance related pay to the Chief Executive Officer of the SBCI, is a matter determined by the SBCI Remuneration Committee, a sub-committee of the SBCI Board.

The SBCI has informed me that this decision was made in conjunction with the SBCI Board following an annual review and discussion with the Board in relation to performance.