IMO meeting to consider ex-chief's retirement pay

on 23/03/2013 00:00:00

An emergency general meeting will take place in Dublin today following a furious reaction in recent months to news of the mammoth payout to former CEO George McNeice.



The meeting was organised after doctors obtained 123 signatures from members seeking a high-profile debate on how the retirement package was reached.



In particular, union members want to discuss the rationale behind handing Mr McNeice a €4.5m pension fund, a €1.49m termination payment, €200,000 a year between 2016 and 2021, and €250,000 a year from 2021 to 2032.



The IMO council subsequently turned down, for legal reasons, specific motions from doctors on the matter, and has instead put forward its own series of steps on how to investigate.



However, despite claims from individual doctors that such a move was effectively a whitewash, the IMO insisted the official route was the only way to discover what happened.



A spokesperson said members will be asked to vote in favour of a "thorough" retrospective review of all documents relating to Mr McNeice's pay, contract, and retirement deal.