Invest NI CEO defends £800,000 payouts to leaders

The head of Invest NI has defended paying £800,000 to four senior leaders who left the organisation during restructuring.

Kieran Donoghue was asked about the payouts during a hearing of the Northern Ireland Assembly’s economy committee.

A scathing independent review of the organisation was published by Sir Michael Lyons in 2023.

Mr Donoghue was appointed as chief executive officer shortly afterwards.

He was asked by the DUP’s Jonathan Buckley about how the senior leaders left and “were they in some way pushed out with offers of significant financial incentives?”

Mr Donoghue denied they had been pushed out, and said that they had been invited to apply for roles on the leadership team.

He said they had all been treated with “courtesy and respect” and decided to “pursue other opportunities”.

Mr Donoghue said those who left had received only what they were entitled to under Northern Ireland Civil Service policies and regulations, and that the payments were approved by the Invest NI board in consultation with the Department for the Economy.

“It’s important to say I wouldn’t describe it as payoffs or payouts. They got their statutory entitlements for leaving the organisation,” he said.

“And the way I look at this is Invest Northern Ireland is Northern Ireland’s principal economic development agency.

“The future of that organisation is worth, to my mind, £800,000 of investment in its future.”

The senior team restructuring involved cutting the number of grade three posts from four to three and having those three posts as new roles: chief commercial officer, chief operating officer and chief development officer.

Assembly members were told that the recommendations of the Lyons report were now “substantially complete” with five actions remaining.

“In my near two years as CEO of Invest NI I have seen a remarkable shift in attitudes towards and engagement with the agency,” Mr Donoghue said.

He added that “clients and stakeholders see and feel a difference in Invest NI” which had filled him with great optimism.