Not Unexpected


State-owned Allied Irish Banks is set to offer its next chief executive a pay package worth almost €1m, the Irish Independent has learned.

The bank has conceded defeat in its fight to be allowed pay its new boss a basic salary of more than the government-imposed cap of €500,000.

But it has now emerged that AIB will instead be able to offer extras such as share options and a bonus that could boost the chief executive’s pay to €1m.

AIB chairman David Hodgkinson (above) is expected to go back to Finance Minister Michael Noonan with the proposed new pay package and this is likely to be approved


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