EirGrid paid former boss Mark Foley €347,000 last year after he stepped down as court case loomed
EirGrid
paid former chief executive Mark Foley more than €347,000 last year, when he resigned from the national grid company following a car crash that led to a prosecution, figures show.
Judge Anne Watkin dismissed a District Court case against Mr Foley for drink-driving in October, after ruling that a blood test showing him to have been four times over the alcohol limit could not be admitted as evidence.
Mr Foley resigned as chief executive on April 12th last year, days before his case was first mentioned before Dún Laoghaire District Court on April 16th.
EirGrid's annual report shows that the State company paid him €347,076 in total in 2024, including notice payments and pension contributions.
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That included a basic salary to that date of €135,000, plus a €173,076 notice payment on his resignation, along with pension contributions of €32,000 and benefits of €7,000.
'On April 12th 2024 Mr Foley gave notice in accordance with the terms of his contract of his decision to retire as chief executive,' the report states.
'Payments were made to Mr Foley in lieu of notice and accrued holidays in accordance with the terms of his contract of employment to the total of €173,076,' it notes.
EirGrid's financial year covers the 12 months to the end of September. Mr Foley's basic pay for 2024 of €134,000 was less than the €234,000 that he received in 2023, when he served for a full year.
His 2024 pension contribution of €32,000 also trailed the previous year's payment of €66,000.
EirGrid paid its chairman, Brendan Touhey, €21,600 in fees while board members who served for the full financial year received €12,600 each.
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Martin Corrigan, EirGrid's chief governance officer, stepped into the company's top post on an interim basis in April last year while the board sought a successor to Mr Foley.
As he was not an executive director, the company's annual report does not include details of his pay.
Cathal Marley took over as chief executive in April, joining from fellow State utility Gas Networks Ireland, where he had held the same role.
The Government last year approved a €50,000 boost to the annual salary for the top job at EirGrid, bringing basic pay to €300,000.
The move followed representations from former minister for the Environment Eamon Ryan.
EirGrid will publish details of Mr Marley's pay and benefits in next year's annual report.
The State company runs the national grid in the Republic, and owns the North's grid company, System Operator Northern Ireland.
The group posted a €10 million profit last year and paid the State a €4 million dividend.
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