Anglo ex-directors earn €44,000 from positions on State boards
Anne Heraty who resigned from the board of Anglo Irish last month before the Government announced plans to nationalise the lender. Despite their involvement with the scandal-hit bank, she still serves on various State boards
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Monday February 23 2009
TWO former directors of scandal-hit Anglo Irish Bank are earning more than €44,000 a year by serving on State boards.
Anne Heraty and Gary McGann were among five non-executive directors who resigned from the ill-fated bank on January 19 -- just before the Government took steps to nationalise it.
Furious shareholders called on the board to be sacked in the wake of revelations that disgraced former chairman Sean FitzPatrick had concealed bank loans worth tens of millions of euro.
The Irish Independent has learned Ms Heraty and Mr McGann remain on a number of State boards at the expense of taxpayers.
Ms Heraty netted director remuneration worth €110,000 last year, while Mr McGann received €124,000.
Ms Heraty -- who is chief executive and founder of the recruitment company CPL Resources -- is currently receiving an annual fee of €14,000 to sit on the board of Forfas, the country's national public advisory body for education and science. Ms Heraty is also paid an annual fee of €14,000 for her work on the board of the state-run peat company, Bord na Mona. Between March 2007 and 2008 she was paid expenses worth €1,800 on top of this flat fee.
She had attended 15 of the 22 scheduled board meetings and all committee meetings.
During that period her company, CPL recruitment, was also paid a fee of €58,000 after it was used by Bord na Mona.
A spokesman for Bord na Mona last night insisted this contract had been issued after a "competitive process". Her former Anglo colleague, Gary McGann, is also racking up a hefty fee as chairman of the Dublin Airport Authority (DAA).
He receives an annual fee of around €16,846 for his work, according to the latest annual financial statements from the company.
A spokesman for the DAA yesterday said the company and Mr McGann had "no response" to make to the comments.
The Irish Independent contacted Ms Heraty's office several times but she refused to reply to the queries.
- Patricia McDonagh
