Oireachtas Joint and Select Committees
Thursday, 30 April 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Kieran O'Donnell (Limerick City, Fine Gael)
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But you might explain, in terms of page 13 that you directed us to in your own opening statement. Why did we go from a situation in '05-'06 where the amount ... 30% of the bonus related to profit before tax and 70% related to cost savings. That dynamic changed in '06-'07, where it became 45% profit and 55% cost. And then, in '07-'08, we suddenly found we had a dynamic where it went to earnings per share, which is really profit related, up to 75%. So, three quarters of your bonus was based on earnings per share and only 25% was based on cost?