Coillte chief executive David Gunning has said he will “voluntarily waive” 15 per cent of his salary, as requested by the Government.
The chairman of Coillte has advised Minister for Agriculture Simon Coveney of the decision.
In a short statement, Coillte said that “at no stage” had the chief executive declined to accept the proposed voluntary waiver.
“Coillte has consistently indicated that no decision had previously been made on the matter, which has been under consideration for some time,” it said.
Taoiseach Enda Kenny said at the weekend he was “very disappointed” the company had yet to accede to the Government’s request for a voluntary cut of 15 per cent in the salary of its chief executive.
Mr Gunning was the only chief executive in the commercial State sector earning more than €250,000 who had not, up to today, agreed to the Government’s request for the voluntary pay reduction.
Last May, Minister for Public Expenditure and Reform Brendan Howlin asked the chief executives of commercial State companies to take a voluntary 15 per cent pay reduction in cases where they were paid more than €250,000.
Mr Gunning was paid a basic salary of €297,000 in 2010. His entire package including his pension, however, was worth some €473,000 in 2010. The sum included a €56,000 performance bonus in respect of 2008, that had been deferred from 2009 pending an improvement in Coillte's trading performance.