THE CHIEF EXECUTIVE of DAA, the operator of Dublin and Cork airports, is to “take some time out of the business”.

It has been reported in the media that DAA was set to formally suspend Jacobs with full pay, pending the outcome of an investigation.

It was further reported in the Business Post this week that Jacobs and his lawyer attended a four-hour board meeting on Monday, during which he is understood to have questioned the legality of his suspension.

It had previously understood that the battle between the DAA board and Jacobs could see him receive an exit package of up to €1.2 million. 

However, such a payout would have involved Transport Minister Darragh O’Brien, who is effectively the shareholder in State-owned DAA, and the Minister for Public Expenditure, Jack Chambers, signing off on the deal.

This is something O’Brien had said he is not willing to do. 

O’Brien told The Journal that “the board and executive need to try to work this through and I don’t know whether they can or not”.

He added: “It appears to me that that difficulty between the board and the executive seems to be quite entrenched.”

Two protected disclosures were made against Jacobs in February and March.

Neither was upheld in an investigation by Senior Counsel Mark Connaughton. 

A mediation process was previously commenced between the board and the chief executive under the chairmanship of industrial relations veteran Kieran Mulvey.

In an email to staff last night, they were informed that Jacobs will “take some time out of the business”.

The email remarked that there has been a “period of intense scrutiny and challenge at a corporate level” and that this “speculation and commentary surrounding our CEO and board has been unsettling”.

Nick Cole was recently appointed as Deputy CEO and in the email to staff, the DAA said this will ensure “continuity of leadership throughout this period”.

- With additional reporting from Christina Finn