Arms CEO stands to lose €50,000 bonus

Suspended ARMS CEO Wilfred Borg stands to lose a €50,000 bonus if he is forced out of his job. The bonus is automatically payable if Mr Borg, who has so far defied Energy Minister Konrad Mizzi’s calls for his resignation, makes it to the end of his contract. It would round off a salary package that included a €40,000 one-off bonus when Mr Borg joined ARMS in October 2010 and €70,000 a year in salary and allowances. Dr Mizzi’s call for Mr Borg’s resignation came after a series of ARMS- related controversies were made public. Full story in The Times.