Con Lucey reveals IFA's runaway remuneration and faulty structures

Wages for the IFA General Secretary and President should be set by the Deputy President, National Treasurer, a Regional Chairman, and an external expert with specialist knowledge of pay levels, said the Association’s former chief economist, Con Lucey this week, in his much anticipated report on the organisation’ remuneration and governance.

He revealed that former Glanbia Chief Executive John Moloney — appointed last July as the remuneration committee’s external expert — has since resigned.

IFA General Secretary Pat Smith resigned last month after his nearly €1 million, two-year salary package was revealed. IFA President Eddie Downey then resigned after it emerged he had agreed a €2m severance package for Mr Smith.