DAA’s board has reached an exit agreement with chief executive Kenny Jacobs. Under its terms, Mr Jacobs would leave the airport operator by mutual agreement with an exit package of close to €1 million, The Irish Times has established.
The deal, reached after weeks of mediation between both sides following the emergence of a serious rift, will need to be ratified by Minister for Transport Darragh O’Brien and Minister for Public Expenditure Jack Chambers, sources said. This is likely to take some days.
A spokeswoman for DAA declined to comment, while Mr Jacobs did not respond to a request for comment. Minister O’Brien was not available for comment.
The accord follows a period of tension in recent months between Mr Jacobs and the wider board, chaired by Basil Geoghegan. There had been intense board scrutiny of the chief executive’s management style.
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Mr Jacobs (51), a former Ryanair executive, took charge of DAA at the start of 2023. He succeeded Dalton Philips, who left to become CEO of sandwich maker Greencore.
[ Why is Kenny Jacobs in the DAA departure lounge so early into his contract?Opens in new window ]
While Mr Jacobs was the subject of two protected disclosure complaints by DAA staff members in relation to dignity-at-work matters, it is understood that the allegations were not upheld after being examined by senior counsel.
Despite this, tensions between Mr Jacobs and the board have persisted. Both sides engaged lawyers, while industrial relations veteran Kieran Mulvey was called on to act as mediator earlier this month.
The matter had also been brought to the attention of senior Government figures. There were concerns that the fallout could affect the group as it faces challenges on a number of fronts.
DAA is keen to advance a complex €2.4 billion infrastructure plan, while it also wants limits on night flights to be ease. Additionally, it is moving forward with litigation over a 32 million annual passenger cap at Dublin Airport.
It is likely that DAA will appoint an interim CEO from within the group as it begins the process that leads to a permanent replacement.
Senior executives include Peter Dunne, who was hired as chief financial officer last year from United Oil & Gas. CEO of DAA International Nick Cole also falls into the senior executive bracket; as does Ray Hernan, CEO of Aer Rianta International, and Vincent Harrison, chief commercial and development officer at DAA.
Others who might be considered include chief governance and compliance officer Miriam Ryan, and Dublin Airport managing director Gary McLean. John Brennan, head of the group’s digital and innovation hub, may also be considered, along with chief people officer Siobhán Griffin and Niall McCarthy, MD of Cork Airport.
