The release of Con Lucey’s report into the corporate governance of the IFA has revealed the remuneration of IFA Presidents since 2009.
The packages revealed ranged from €150,000 paid to John Bryan in 2011 to €180,000 paid to Padraig Walshe in 2009.
The report comes in the wake of pay revelations in the country’s largest farming organisation which has seen the resignation of its President and General Secretary.
Of note from the figures revealed in the report is that each President was the recipient of a termination payment equivalent to one year’s remuneration on leaving office. In the case of former President Padraig Walshe, the payment was in excess of €180,000
The IFA Presidents are also invited to the board of FBD Holdings during their tenure. The current directors’ fees level is €39,600.
Here’s Con Lucey’s recommendations
First, the payment to the President should be based on the gross cost (before taxation) of replacing the labour and management of the President on a seven day week basis.
Second, this should be the total payment, and payments to the President from outside bodies should be paid into IFA funds, other than any expenses arising from the involvement in the outside body.
Alternatively, if this is not practical, the fees should go to the individual but the payment from IFA should be reduced by the same amount.