20% pay hike for IN&M’s O’Reilly

INDEPENDENT News & Media chief executive Tony O’Reilly received a 20% pay hike last year.

The company’s 2007 annual report shows Mr O’Reilly was paid a total of €2.2 million last year.

Mr O’Reilly, who was yesterday named as media person of the year at the Cannes Lions International Advertising Festival, was paid a basic salary of €980,000 and a performance bonus of €750,000. The rest of his pay consisted of pension contributions of €450,000 and other perks and fees.

The total amount paid to IN&M directors, rose to €11.6 million in 2007 from €10.5m in 2006.

Pre-tax profits at Independent fell by €1.7m to €248.4m in 2007. The company took a €37.7m hit to cover a cost reduction programme. Revenues grew 2% to €1.67 billion.

After Mr O’Reilly, the next highest paid director was Brendan Hopkins, whose pay rose to €2.04m from €1.92m. Mr Hopkins runs APN News & Media, the Australian company in which IN&M has a 40% stake.

Ivan Fallon, who runs Independent’s British operations, saw his pay rise from €1.43m to €1.66m.

Gavin O’Reilly, the company’s chief operating officer and Mr O’Reilly’s son, saw his pay rise to €1.53m from €1.4m.

The head of the company’s Irish titles, Vincent Crowley, received €1.4m, a rise of €141,000.

Chief financial officer Donal Buggy’s pay rose €142,000 to €1.15m.

Independent’s chairman Brian Hillery saw his fees for the year fall by €1,000 to €154,000. Liam Healy, the company’s former chief executive, was paid €375,000 for his role as a non-executive director.

Independent’s AGM will be held in London this year, to reflect the significant number of international investors, a spokesman for the company said.

At last year’s explosive AGM, Denis O’Brien, IN&M’s second largest investor published a report accusing the firm of poor corporate governance.


Fiann Ó Nualláin follows in the footsteps of the Fianna as he explores a province’s hills and vales.Munster marvels: Plants that are unique to a province

Cupid must be something of a motoring enthusiast, as he had most definitely steered his way in the neighbourhood when Amie Gould and Shane O’Neill met at the Rally of the Lakes 12 years ago.Wedding of the Week: Cupid steers couple to right track

When it comes to podcasting, all it takes is one idea — and who knows where it can take you.Podcast Corner: Crimes and creatures rule at Cork’s first podcast fest

Claymation meets science fiction in this enchanting film, writes Esther McCarthy.Latest Shaun adventure is out of this world

More From The Irish Examiner