DAA CEO Kenny Jacobs Nears €1 Million Settlement for Exit

Kenny Jacobs, the chief executive of the Dublin Airport Authority (DAA), is close to a settlement of approximately €1 million that would see him leave his position. This development follows increased tensions between Jacobs and the DAA board, as reported by The Irish Times. The mediation process, involving legal representatives from both sides, has intensified in recent days, indicating a serious rift within the organization.

The DAA operates both Dublin and Cork airports. According to sources, the settlement discussions aim for a mutual agreement for Jacobs to exit his role. It remains uncertain whether these proposals have received formal approval from the DAA’s board or from key government officials, including Minister for Transport Darragh O’Brien and Minister for Public Expenditure Jack Chambers.

Jacobs, who assumed the CEO role in early 2023, has faced significant challenges during his tenure, which was set to run until 2030. Despite having previously held a senior executive position at Ryanair, Jacobs encountered issues that have led to legal involvement. Mediation is currently being overseen by former head of the Workplace Relations Commission, Kieran Mulvey.

According to reports, Jacobs had previously faced complaints under a protected disclosure process, but these were ultimately not upheld. Nonetheless, the ongoing tensions have resulted in a legal standoff, with both Jacobs and the DAA board engaging law firms to represent their interests. Jacobs has hired Arthur Cox for his legal counsel, while the DAA is represented by McCann FitzGerald.

The DAA has been grappling with multiple issues, including a complex €2.4 billion investment plan submitted to Fingal County Council in late 2023. This plan aims to upgrade terminal facilities and increase passenger capacity at Dublin Airport from 32 million to 40 million annually. However, the local council has stalled the decision, awaiting further documentation related to noise regulations.

In a notable enforcement action, the DAA was issued a notice after breaching the passenger cap last year, which has complicated its operations. Jacobs has expressed a determined approach to overcoming these challenges, having stated in a previous interview that he brings a “take-no-nonsense” attitude to his role.

While Jacobs received a basic salary of €285,000 in the previous year, additional benefits brought his total remuneration to nearly €375,000. The duration of his contract and the high remuneration levels may play a significant role in the final settlement package being negotiated.

As discussions continue, the outcome of the proposed settlement remains to be seen, along with its potential impact on the DAA and its future operations in the rapidly evolving aviation landscape.