An Post Chairman Criticizes CEO’s €250,000 Salary Amid Industry Raises

The chairman of An Post, Kieran Mulvey, has expressed concerns over the company’s chief executive officer’s remuneration, stating it is “wholly unfair” that David McRedmond receives an annual salary of only €250,000. This statement comes as other semi-state executives see their compensation packages increase, raising questions about fairness and competitiveness in the sector.

In discussions with the government, Mulvey indicated that McRedmond’s compensation package has remained unchanged since 2019. He highlighted that there has been “no change to reflect market conditions, competitor activity, acknowledgment of performance history, experience, and length of time in the post.” During a meeting with Public Expenditure Minister Jack Chambers, Mulvey pointed out that salaries for other commercial semi-state leaders have already surpassed McRedmond’s, with some reaching €300,000 annually.

Mulvey’s comments underscored the challenges An Post may face in attracting qualified candidates for the CEO position, which is set to become vacant following McRedmond’s announcement of his departure. He noted that the current salary may hinder their efforts. In a letter sent in March 2024, he stated, “It is highly unlikely that we will be able to attract the calibre of candidate we need to succeed the current CEO on this package.”

While Mulvey proposed a new salary figure for the incoming CEO, this amount has been redacted from Freedom of Information records. He explained that although his suggested figure still may not be sufficient, it reflects the department’s acknowledgment of existing inequities and supports An Post’s board in attracting a suitable successor.

In response to Mulvey’s request, Environment Minister Darragh O’Brien stated in April 2024 that it would not be appropriate to consider the proposed salary adjustment at that time. He mentioned an ongoing independent review of pay rates for chief executives within the commercial semi-state sector, which has since been completed.

As An Post begins the search for a new CEO, the absence of a specified salary in the job advertisement raises further questions about the firm’s ability to attract top talent. A spokesperson from the Department of Culture, Communications, and Sport, which oversees An Post, confirmed that the CEO’s remuneration has not yet been finalized. They noted that the contract for the position requires approval from both the Minister for Culture, Communications, and Sport and the Minister for Public Expenditure.

The spokesperson acknowledged An Post’s efforts to enhance its operations, particularly in the parcel and e-commerce delivery sectors, expressing hope that these improvements would benefit the company and its consumers. They also recognized McRedmond’s contributions in steering the company through challenging times and emphasized the importance of sustaining transformative change with the next leader.

In an important note, this article was amended on November 21 to correctly identify Kieran Mulvey as the chair of An Post, correcting a previous error.