The idea that executives, as a class, are individually contributing over 100 times more in value than the workers they rely on is simply not credible.
Public Expenditure Minister Jack Chambers has signed off on new wage levels for CEOs at Bus Éireann, Iarnród Éireann and Gas Networks Ireland. Approval was given on October 8 to increase the salary for the chief executive of Bus Éireann from €210,000 to €260,000. Jean O'Sullivan took up the position on November 1. The newly appointed CEO at Iarnród Éireann, Mary Considine, started on a €300,000 salary on September 15, up from €225,000.
Mr O'Callaghan claimed the Government was boosting the pay of semi-state chiefs without any reference to economic headwinds or global volatility regarding their gold plated salaries.