Written answers

Tuesday, 5 July 2011

Department of Finance

Semi-State Bodies

9:00 pm

Photo of Michael McCarthyMichael McCarthy (Cork South West, Labour)
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Question 137: To ask the Minister for Finance the number of semi-State companies here that paid bonus payments to their chief executive officer in 2009 and 2010 separately; the amount of each bonus payment; the corresponding company name; the name of the bonus recipient; the date the bonus was paid in tabular form; and if he will make a statement on the matter. [18332/11]

Photo of Michael McCarthyMichael McCarthy (Cork South West, Labour)
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Question 138: To ask the Minister for Finance the number of semi-State companies that paid bonuses to second-tier management staff in 2009, 2010 and 2011 separately; the amount of each bonus paid; the corresponding company; the name of bonus recipient; the date on which the bonus was paid in tabular form; and if he will make a statement on the matter. [18345/11]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 137 and 138 together.

My Department does not hold this information. Information on performance related payments for chief executives and second tier management in Commercial State Companies is appropriate to the relevant Department. In relation to CEO's the information is published in the annual reports of such Companies.

Photo of Mary Lou McDonaldMary Lou McDonald (Dublin Central, Sinn Fein)
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Question 139: To ask the Minister for Finance if the 15% voluntary cut in salary he is seeking from existing commercial semi-State chief executive officers includes previous pay cuts or is it 15% of current salaries. [18350/11]

Photo of Mary Lou McDonaldMary Lou McDonald (Dublin Central, Sinn Fein)
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Question 185: To ask the Minister for Finance if he will consider extending his review of the current performance schemes for chief executives for commercial State companies to all levels of management who are awarded bonuses; and if he will extend his instruction that bonus payments to CEOs should not be paid to all commercial semi-State management. [18876/11]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 139 and 185 together.

It is my intention to seek a 15% voluntary pay adjustment from incumbent Chief Executive Officers in Commercial State Companies who are in receipt of salaries in excess of €250,000. Where an adjusted salary figure is less than or equal to the €250,000 salary cap that lesser sum would be sufficient.

The Government's decision is that I should review the current performance schemes for Chief Executive Officers of Commercial State Companies in conjunction with Ministers with such companies under their aegis. While the issue of such payments to management and staff below the level of CEO is not covered by the review, it is to be expected that the outcome of the review will inform the future structure of performance related award schemes in these companies.

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