DAA CEO to relinquish €100k bonus payment

The Chief Executive of Dublin Airport Authority, Declan Collier, has informed the Minister for Transport Leo Varadker, he will forego performance related pay in respect of 2010, approved by the company.

In a statement on the DAA website this evening, Mr Collier said the move comes in light of prevailing national economic circumstances.

The Board had approved a performance payment for last year 2010 to Mr Collier based on the achievement of targets that year.

The Minister for Transport, Leo Varadkar said: "I welcome the decision by Declan Collier to forego his bonus for 2010 and his acceptance that the terms and conditions of the CEO’s position will be substantially reduced next year, in line with Minister’s Howlin’s reforms.

"I am pleased that Mr Collier and the DAA board are now complying with the policy of my Department, and of the Government as a whole.

“Like all sections of society and the economy, the semi-State sector will have to undergo a significant transformation in order to survive and prosper. That requires leadership and personal sacrifice from the top. I welcome Mr Collier’s decision in this context.

"It follows similar decisions taken by other semi-State chiefs, and I hope that we will see further examples of such leadership from others across the semi-State sector in the weeks ahead."

Mr Collier has agreed to defer payment until the termination of his contract.