IL&P’s directors see salaries slashed

DIRECTORS at Irish Life & Permanent had their bonuses cut and fees slashed 15% last year.

Executive and non-executive directors were paid e3.82 million in 2008, down from e4.48m a year earlier, according to the bank’s annual report.

Denis Casey, who resigned as chief executive in February, was paid 31% less, receiving e942,000, down from e1.36m in 2007. The lender didn’t pay any bonuses to directors last year.