The chair of An Post said it was “wholly unfair” that the organisation’s CEO was earning just €250,000 annually while other semi-state leaders were seeing their pay increased.
In discussions with the government, chairman Kevin Mulvey said the pay package for An Post’s chief had remained unchanged since 2019 without any uplift, reports Breaking News.
He said the arrangement had seen “no change to reflect market conditions, competitor activity, acknowledgement of performance history, experience and length of time in the post.”
Mr Mulvey explained that the package for outgoing CEO David McRedmond consisted of a €250,000 yearly salary, a company car, and a private pension contribution of 25 per cent, reports Breaking News.
However, he told Public Expenditure Minister Jack Chambers that these earnings were already surpassed across other commercial semi-state bodies where salaries of €300,000 a year were now being granted.
He said it was “wholly unfair” that a sitting CEO would be left behind while others were offered improved pay structures, reports Breaking News.
Mr Mulvey also noted that An Post was preparing to open a competition for a new chief executive and warned that the current salary level was unlikely to attract suitable candidates.
His letter, sent in March, said: “It is highly unlikely that we will be able to attract the calibre of candidate we need to succeed the current CEO on this package”, reports Breaking News.
He said that David McRedmond had been “extremely patient” while successive chairs of An Post had attempted to secure a more appropriate reward for his contribution.
In the letter, Mr Mulvey proposed an updated salary for the role; however, the figure was removed from the FOI release, reports Breaking News.
Explaining the reasoning behind the revised amount, he wrote: “Whilst this is still not sufficient in my opinion it does show that the department recognises the inequity that now exists and also supports the chair and board of An Post to be able to attract the calibre we need to succeed the current CEO.”
In a reply issued in April, Environment Minister Darragh O’Brien said it would not “be appropriate to consider your request at this time”, reports Breaking News.
Mr O’Brien said an independent assessment — now concluded — was underway to review pay levels for chief executives in the commercial semi-state sector.
Since the exchange of correspondence, An Post boss David McRedmond has announced that he will step down from his position, reports Breaking News.
Earlier this month, the postal service began advertising for a new CEO; however, the listing did not specify a salary for the job.
Asked about the documentation, the Department of Culture, Communications, and Sport — now responsible for An Post — said the remuneration “has not yet been confirmed”, reports Breaking News.
A spokesman said: “The contract for the CEO position [is] subject to the approval of the Minister for Culture, Communications and Sport and the Minister for Public Expenditure.”
He said pay arrangements for senior executives in commercial semi-states continue to be reviewed as part of an ongoing process, reports Breaking News.
The spokesman added: “The department welcomes that An Post has leveraged its operations to develop its parcel and ecommerce delivery and hopes to see the benefits of this for the company, network, and its consumers. The department recognises the work of the current CEO in driving transformation in the business while managing the global headwinds mentioned above and hopes the transformative change can continue into the next CEO’s term,” reports Breaking News..
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