Glanbia’s top brass received €1.5m in cash incentives in 2015
Glanbia increased its pay to its top employees in 2015, including cash incentives totalling €1.515m to its top four earners.
Group Managing Director Siobhan Talbot’s total remuneration for 2015 was €1.889m, up from €1.626 in 2014.
This included a base salary of €750,000, a pension contribution of €199,00 and a cash annual incentive of €563,000. On top of that Talbot received another annual incentive, in the form of shares, worth €351,000 in 2015.
Mark Garvey was paid a base salary of €400,000 and received a cash incentive of €300,000 as well as a shares incentive worth €199,000. His total remuneration was €984,000 in 2015. Garvey was appointed as Group Finance Director in November 2013.
Hugh McGuire was paid a base salary of €479,000 and received a cash incentive worth €359,000. His shares incentive was worth €254,000 and his total remuneration was €1.299m in 2015, up from €926,000 in 2014. McGuire was appointed to the Board in June 2013 as an Executive Director with responsibility for Glanbia Performance Nutrition.
Brian Phelan was paid a total remuneration of €891,000 in 2015, and received a cash incentive of €293,000. Phelan was appointed as Chief Executive Officer Global Ingredients in June 2013. He was appointed to the Board in January 2013 as Group Development and Global Cheese Director.
Of its non-executive Directors Henry Corbally, Glanbia Chairman, received €81,000 in fees, while Donard Gaynor received €80,000 and and Brendan Hayes €35,000*.
Gaynor was appointed to the Board in March 2013 and has served two full years on the Board and is Chair of the Remuneration Committee.
Patrick Coveney received €70,000 in fees for 2015, up from €40,000 in 2014 and, in total, Glanbia paid its non-executive directors €887,000 in fees, up from €800,000 in 2014.
Coveney was appointed to the Board of Glanbia in May 2014 and is Chief Executive Officer (CEO) of Greencore Group plc.
*The figure for Brendan Hayes has been corrected, it was initially reported as €80,000.