Image Source : Malta Ceo’s mt
New Infrastructure Malta CEO Steve Ellul has been awarded a lucrative three-year contract, with a total annual value of up to €128,000. This significant appointment comes after Ellul’s unsuccessful bid for a seat in the European Parliament on the Labour Party ticket and the resignation of Ivan Falzon.
Ellul’s basic salary is set at €95,500, with an annual increase of €1,000, reaching €97,500 in the third year. He is also entitled to a 10% disturbance allowance, equivalent to €9,750.
In addition to his basic salary and disturbance allowance, Ellul may receive a performance bonus of up to 15% of his basic salary, contingent on meeting agreed performance objectives and key performance indicators (KPIs).
The Wide Range of Benefits and Allowances Given to Ellul
The contract also includes a range of benefits, including a car allowance of €4,666 per annum or a fully expensed car, including fuel, as well as a driver.
Ellul will also receive a mobile phone allowance of €2,000 per annum, a comprehensive health insurance plan, and a life insurance policy, paying out four times his basic salary to his legal heirs in the event of his death during his tenure.Furthermore, Ellul is entitled to a daily allowance for work trips, as well as reimbursement for “all reasonable travelling and other expenses” supported by receipts or acceptable evidence.
This substantial pay package represents a significant increase from Ellul’s previous role as CEO of Project Green, where his annual compensation was €81,000. Notably, his new salary exceeds that of the minister he reports to, but is relatively common among government CEOs, who often receive six-figure pay packages.
Ellul’s appointment takes a Helm at the infrastructure of Malta
Government sources indicate that Ellul’s appointment aims to take Infrastructure Malta in a new direction, following controversy surrounding the agency’s projects and management. As the new CEO, Ellul will face challenges in addressing these concerns while implementing the government’s infrastructure plans.
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