IFA to challenge Pat Smith’s €2m exit package

It has been revealed that the IFA is to challenge the exit package agreed with Pat Smith last week.

The news comes after a day of intensive talks in IFA HQ as its Executive Council meet to discuss the ongoing crisis surrounding the Association.

The meeting was told by the acting General Secretary, Bryan Barry the details of Pat Smith’s exit package and a vote was taken to challenge the package.

It also heard that Pat Smith’s exit package was agreed by IFA President Eddie Downey alone. It has also believed that other current members of the remuneration committee were not part of the final decision surrounding Smith’s exit package.

Smith’s exit package was confirmed to be a €1m lump sum and €100,000 every year for 10 years.

It is the latest revelation in the ongoing discussions in Bluebell tonight.

Earlier today, the Executive Committee ratified the review process by Con Lucey and is inviting its members to make submissions to the review.

IFA Deputy President Tim O’Leary said he was pleased to announce that the former IFA Chief Economist Con Lucey has agreed to conduct a thorough review of the structures in the Association around corporate governance and related matters, including issues around remuneration and will report to the Executive Council on Tuesday, December 15.

Con Lucey said he looked forward to working with the IFA in this role as part of the process of rebuilding the trust and confidence of members in the Association. The Executive Council unanimously welcomed Con Lucey’s involvement as an important step forward in re-building the trust of farmers. Also Read: Have Your Say - Take Part In Our IFA Poll Here

 

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