Coillte chief bows to pressure on pay cut

COILLTE chief executive David Gunning has bowed to Government pressure and volunteered to have his €297,000 salary cut by 15%.

The moves brings his annual pay to slightly above the €250,000 cap set by the Government for all future chiefs executive of semi- state companies.

Last week the state forestry firm refused to come forward and deliver the pay cut. This was despite Taoiseach Enda Kenny and senior ministers voicing their annoyance at the package enjoyed by its chief executive.