Directors at FBD to take pay cuts of up to 15 per cent

Directors at FBD are to take pay cuts of up to 15 per cent after rejecting a takeover bid last year that valued the insurance group at five times its current market capitalisation.

4th April, 2009

Directors at FBD are to take pay cuts of up to 15 per cent after rejecting a takeover bid last year that valued the insurance group at five times its current market capitalisation.

The company, which recently reported pre-tax losses of €38 million for 2008, said last week that chairman Michael Berkery would waive 15 per cent of his fees this year, equating to a €22,000 cut on the €149,000 he was paid last year.

Chief executive Andrew...

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