Notes to the Financial Statements
28. Directors’ Remuneration
2023 | 2022 | |
|---|---|---|
€’000 | €’000 | |
Emoluments | 445 | 396 |
Contributions to retirement benefit schemes | ||
- Defined benefit |
66 |
85 |
Performance related pay for former Chief Executive paid by the Company | 415 | - |
Retirement benefits are accruing to two Directors (2022: two Directors) under defined benefit schemes.
The Directors do not participate in any long-term incentive schemes, nor do they have any equity interests in the Company.
As noted in note 7, following a High Court settlement agreement reached in 2023, the Company was obliged to make certain performance related payments in the amount of €415k to a past Chief Executive for services provided during his term in office from 2010 to 2022. This has been reflected above within “Performance related pay for former Chief Executive paid by the Company”.
Included in the above is the remuneration package of the Chief Executive made up as follows:
2023 | 2022 | |
|---|---|---|
€’000 | €’000 | |
Director’s Fees | - | 8 |
Salary | 210 | 162 |
Other Benefits including Pension Costs and Taxable Benefits | 53 | 61 |
263 | 231 |
Directors’ Fees | 2023 | 2022 |
|---|---|---|
€ | € | |
J Grant | 21,600 | 21,600 |
E O’Reilly | - | 8,440 |
M Brophy | 12,600 | 9,476 |
D Cronin | 12,600 | 11,720 |
G Darling | - | 6,852 |
B Grist | 12,600 | 11,720 |
M Hand |
12,600 |
12,600 |
K Nolan * |
- |
9,407 |
B Power * |
12,600 |
2,727 |
J Kelly ** | - | 3,150 |
97,692 | 97,692 |
* In Addition to the Directors’ fees, Mr. Nolan and Mr. Power were paid as employees of Dublin Port Company.
** Mr. Kelly was appointed by the Board in 2021 to act as Chairperson of the Audit and Risk Committee pending the filling of an existing Board vacancy.
Key management compensation
The compensation paid or payable to key management is shown below:
2023 | 2022 | |
|---|---|---|
€’000 | €’000 | |
Salaries and other short term benefits | 2,084 | 1,912 |
Post-employment benefits | 333 | 344 |
Total key management compensation | 2,417 | 2,256 |
The key management compensation amounts disclosed represents compensation to those people having the authority and responsibility for planning, directing and controlling the activities of the Company. The key management personnel include Board Members and members of the executive management team. The amounts stated above are inclusive of employer’s PRSI.