MICHAEL DOWNES,
Madam, - I struggled to understand why Eircom's chief executive and chief financial officer were laughing so heartily in the photograph in Tuesday's Business & Finance section. They were presenting a €104 million loss for the year - on the face of it a a fairly grim task for those given the responsibility for the success of a company.
The accompanying report made sense of the mirth, however, as it seems that Alfie Kane walked away with about €4.5 million for his stewardship throughout the flotation and his contribution to the company's success to date. With that precedent set, I'd be laughing too if I was one of the current top executives. It seems as if reward is not always aligned to success. - Yours, etc.,
MICHAEL DOWNES,
Booterstown,
Co Dublin.