Wednesday 17 January 2018

Plenty of gold-plated perks for €250,000-a-year DAA boss


KEVIN Toland, the newly appointed chief executive of the embattled Dublin Airport Authority (DAA), will not be paid a bonus on top of his €250,000 salary -- but he will get a company car, VIP access at Dublin Airport and a gold-plated pension.

There was widespread surprise at Toland's agreeing to the existing pay cap of €250,000, given he earned a €925,000 package in his old job with Glanbia in the United States.

Despite many musings in Opposition about fat-cat salaries at the top of the public sector, Transport Minister Leo Varadkar found landing a replacement for former boss Declan Collier greatly hampered by the Government's pay cap for CEOs.

Details of Toland's package, which were confirmed by Leo Varadkar's department last week, are modest compared to that enjoyed by Collier, who now is in charge of London City Airport.

Declan Collier's package topped out at €638,000 in 2009 including a basic salary of €372,000 a year.

In contrast, Toland is being paid €250,000 with no bonus. But he will "have access to a company car". In light of his duties, he is "likely to have VIP access" to the airport, a DAA spokesman said.

Toland will also benefit from a gold-plated defined benefit pension, which is "standard" for all semi-State CEOs, Mr Varadkar's spokes- man said.

On the appointment of the new DAA boss in September, Mr Varadkar said: "For some years now, the DAA has been facing a very difficult business environment with significant falls in passenger traffic at the three State airports. Mr Toland's initial challenge will be to deal with that situation and bring the company back to healthy growth."

DAA chairman Pádraig Ó Ríordáin said at the time Kevin is exactly the right leader for DAA with a aremarkable track record of success."

Sunday Indo Business

Promoted Links

Business Newsletter

Read the leading stories from the world of Business.

Promoted Links

Also in Business