Mr. John Cregan:

What I have said echoes something Mr. Goulding has stated, which is one must look for an arrangement that is fair to the CRC and to Mr. Kiely, who was chief executive for nearly 28 years. However, I do say the Haddington Road agreement was going to be implemented on 1 July and I felt the board would then be in a stronger position to do a better deal. I felt that the salary was overstated in terms of his pension arrangements and that this salary should have been reduced.