Downey steps down amid Smith salary saga

IFA’s Executive Board met yesterday evening and asked former Chief Economist Con Lucey to review and report to the Executive Council on:

- the implementation of the recommendations around remuneration and other observations in his letters, and;
- to make any additional recommendations on corporate governance or other areas which he considers relevant.

Con Lucey has agreed to undertake this work and believes he will have a report within weeks.

IFA President Eddie Downey said that he wished to give Con Lucey and the Association the time and space to thoroughly review the situation and therefore would step back to facilitate the review.

In the meantime, Deputy President Tim O’Leary will undertake the functions of the President.

Eddie Downey said: “Mistakes have been made and I want to apologise for that. Steps have been taken to ensure that past mistakes are never repeated.”

IFA Deputy President Tim O’Leary pledged to rebuild the trust of the Association’s membership following the disclosure of the remuneration of the former General Secretary, which he said was indefensible.

In 2013, during the fodder crisis, the remuneration package for Pat Smith topped half a million euro - or twenty times more than the average farm income, according to Teagasc figures.

Tim O’Leary said: “Con Lucey will carry out a comprehensive review to address any inadequacies in our structures, and will come back to Executive Council with recommendations. There will be full transparency and accountability from now on.”

For my role as Deputy President of the IFA, I am paid €35,000. The IFA President is paid €147,000 a year. These figures are under review. The remuneration package of any future IFA General Secretary will be disclosed and will be a matter of public record in the annual accounts.”

Tim O’Leary said he knows that IFA officers and staff are totally committed to getting on with their job of representing farmers and dealing with the issues of commodity and input prices in all sectors, CAP payments and farm schemes.

Of the latest development, James Speares, the president of Cavan IFA, says that Eddie Downey “felt he had to step back. It’s for the betterment of the organisation going forward. We need a clean slate. The IFA is bigger than just one man, it’s about all its members and ensuring there is transparency now and into the future.”

For full interview with James and his views on the Smith saga, see tomorrow's paper.