Outgoing ESB chief received €650k

For his last 11 months as chief executive of the ESB, Padraig McManus received over €650,000, despite giving up over €140,000 in salary entitlements.

The details of Mr McManus’s pay were included in the ESB’s annual report, which was published yesterday. The accounts show a strong financial performance in 2011, with operating profit rising to €469m.

Mr McManus received €528,886 in remuneration in 2010, but a combination of a €99,000 payment in lieu of notice and a €84,199 bonus paid in respect of 2009 ballooned his take-home pay for his last 11 months in the job to €674,887.