BoI boss to have tumour removed

The chief executive of Bank of Ireland has told staff he has been diagnosed with cancer and will receive treatment next month.

Richie Boucher said the tumour had been discovered in his colon during a routine medical check-up.

He said according to his doctors, the growth can be successfully removed with a standard operation.

He said it was a stage one tumour, the lowest grade on a four-point scale.

Mr Boucher said he felt it necessary to inform staff of the diagnosis to ensure matters which were likely to affect the running of the company were handled transparently.

He also explained the time he will have take off in August to recover.

“My doctor has advised me that this can be successfully removed through a standard medical procedure. As a consequence, I wanted to let you know that whilst I will be working normally for July I will be having a scheduled medical procedure during the first week in August, and following a period of recuperation I expect to be back to work in September,” he said.

Mr Boucher is highly regarded within Bank of Ireland to the point that it set aside the Government’s salary cap to pay him a package in excess of €840,000. This was backed by 99% of shareholders at the recent AGM.

Mr Boucher was not bound by the cap as he was employed by the institution before it was introduced.

Under his watch the bank has repaid almost €2bn to the State for the money taxpayers pumped into it to keep it capitalised.