DAA Chief Kenny Jacobs Settlement: €1m Payoff – The Irish Times
- DAA Chief Executive Kenny Jacobs is likely to leave his position.
- * Dispute: A significant disagreement exists between Jacobs and the DAA board.
Here’s a summary of the article:
DAA Chief Executive Kenny Jacobs is likely to leave his position. A serious rift has developed between Jacobs and the DAA board, leading to settlement talks. Both sides are considering a mutual consent departure.
Key Points:
* Dispute: A significant disagreement exists between Jacobs and the DAA board.
* Settlement Talks: Negotiations are underway, possibly leading to Jacobs leaving the company.
* Ministerial Approval: Any deal requires approval from the Minister for Transport, Darragh O’Brien, and the Minister for Public Expenditure, Jack Chambers.
* protected Disclosures: Complaints were made against Jacobs under a protected disclosure process, but were ultimately not upheld after an examination. However, tensions remained.
* Legal Portrayal: Both Jacobs (Arthur Cox) and the DAA board (McCann FitzGerald) have legal counsel involved in the negotiations, with mediation led by Kieran Mulvey.
* Contract Length: Jacobs has a seven-year contract, running until 2030, which is longer than the typical five-year contract for Irish semi-state company CEOs.
* Background: Jacobs, formerly a senior executive at Ryanair, took over as DAA CEO in early 2023.