IN&M directors paid €8.1m as profits rise

THE directors of Independent News & Media (IN&M) were paid €8.1 million last year, a 10% rise on the 2003 figure.

The company’s annual report for 2004 reveals that chief executive Tony O’Reilly was paid a total of €1.31m, up €91,000. The package was made up of a salary of €866,000, performance bonus of €400,000 and other fees of €51,000.

Dr O’Reilly stepped down as executive chairman last July to become the full-time chief executive. The former Heinz boss has been involved with IN&M for 32 years and is the largest shareholder, with a 27% stake.