Written answers
Wednesday, 13 July 2011
Department of Finance
Banking Sector Regulation
6:00 pm
Kevin Humphreys (Dublin South East, Labour)
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Question 76: To ask the Minister for Finance the efforts, if any, that have been made to recoup the €1,000,000 bonus paid by Irish Nationwide Building Society to Michael Fingleton which Mr. Fingleton indicated he would return; if he proposes to take any action on this promise; and if he will make a statement on the matter. [20242/11]
Michael Noonan (Limerick City, Fine Gael)
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The outgoing board of Irish Nationwide Building Society made many efforts to recoup the bonus paid to the former CEO of the Society in 2008. Now that the INBS has merged with Anglo Irish Bank, I regard the commitment of the former CEO to return the bonus to the society as one that remains outstanding to the new merged entity. Therefore, I have asked the Board of the new merged entity to continue to strongly press this matter. I fully encourage and support its efforts to recoup the payment in accordance with the commitment made by the former chief executive of INBS.
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