Bord Gáis chief set for departure

After two successive pay cuts, the chief executive of Bord Gáis, John Mullins, will not be renewing his five-year contract as the company embarks on establishing Ireland’s newest utility — Irish Water.

Mr Mullins’s pay fell by €56,000, according to the Bord Gáis annual report which was released yesterday. Mr Mullins was paid €399,000 in 2010. His pay for 2011 fell to €343,000, although his basic salary increased €13,000 to €278,000. A note on the report states that from Aug 2011, his basic pay was to be capped at €250,000.

The director of corporate affairs with Bord Gáis, Larry Donald, said Mr Mullins intends to see out his contract and then leave.