Sunday 25 February 2018

Burrows is given €8,200 for new home security system

Nick Webb

Nick Webb

Richard Burrows, the former Bank of Ireland chairman who stepped down after apologizing to shareholders for the bank's implosion, was given almost €8,200 for the "maintenance of home security systems" by his new employer British American Tobacco (BAT) last year.

Burrows commutes from his Dublin home to his part-time job as chairman of the FTSE cigarette-maker. It is an extremely lucrative gig as he was awarded a pay rise in February and will now earn €733,000 this year.

Last year, Burrows received a perks package worth over €102,000 on top of his fee.

As well as the alarm system, Burrows's package included €72,000 for a driver and almost €8,300 for "hotel accommodation and related expenses incurred in connection with individual and/or accompanied attendance at certain business functions and/or corporate events".

In 2011, Burrows's expenses for hotels and business events topped €48,000. The former bank chief also got return air tickets for his commute from Dublin to London and a souped-up medical package as part of his perks deal.

The former banker joined BAT as a board member in August 2009, weeks after stepping down from Bank of Ireland. In 2010, he was appointed as chairman of the cigarette company, which promptly spent €52,000 for the installation and maintenance of a home security system for its new leader.

Burrows served as "governor" or chairman of Bank of Ireland from 2005 until the summer of 2009 when the bank was rescued by the State.

His career has taken him from a toxic bank to rat poison firm Rentokill, cigarette company BAT, huge alcohol firms Carlsberg and Pernod Ricard and controversial nickel mining firm Eurasian Natural Resources Company (ENRC).

Irish Independent

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