An agreement has been reached between Chief Executive of the daa and the board of directors of the semi-state company, under which Kenny Jacobs will leave his role in the new year.
The deal was struck as part of a mediation process in recent weeks following a breakdown in relations between Mr Jacobs and members of the board, which is chaired by Basil Geoghegan.
It is estimated the exit package would be in the region of €1.2 million, given the period of time remaining in Mr Jacobs contract.
The agreement will require ministerial approval from Minister for Transport Darragh O'Brien and the Minister for Public Expenditure Jack Chambers, which is a process sources say "could take weeks".
Mr Jacobs is set to remain in the position of CEO until the new year, running the daa, which operates Dublin and Cork airports.
The 51-year-old, who previously worked as chief marketing officer at Ryanair, was appointed as Chief Executive of the daa in November 2022.
Mr Jacobs took up the role in January 2023, meaning he has served just over two-and-a-half years of a seven-year term.
€375,000 remuneration package
The daa annual report for last year shows the CEO was paid a total remuneration package of almost €375,000, which included a basic salary of more than €280,000 and pension contributions and other taxable benefits of over €90,000.
Mr Jacobs was the subject of two complaints under the daa's protective disclosures policy, which were not upheld, meaning the chief executive was exonerated.
A spokesperson for the daa declined to comment on the deal that has been reached, as did a spokesperson for the Minister for Transport Darragh O’Brien.
Kenny Jacobs did not respond to a request for comment.
Speaking on RTÉ's Morning Ireland yesterday, the Transport Minister said he hoped for "an agreed resolution" when he was asked about the reports of a rift.
Darragh O'Brien said any exit package to be paid to the daa CEO would require his approval.
"When and if anything comes to me, I’ll assess it at that stage," he added.
Minister O'Brien said Mr Jacobs and his team had been "central" to delivering growth at Dublin Airport.
The daa board is due to meet in Cork for a pre-scheduled meeting on Friday.
