Goggin to be paid wage till June 2010

BANK of Ireland chief executive, Brian Goggin, who retired yesterday from his €1 million-plus job, will be paid a salary until June 2010.

As part of his contract, Mr Goggin, whose basic salary is about €1.1m, is entitled to give one year’s notice of his intention to retire.

After 40 years with the bank, he will step down as chief executive in June 2009 but will officially retire from the bank in June 2010.