Elan paid boss bonus of €725,000 last year

THE head of Irish pharmaceutical company Elan received a $1 million (€725,000) bonus last year, but the Dublin and Athlone-based company still slightly decreased its total remuneration outlay to directors.

Kelly Martin — who has been chief executive of the company for eight years — was paid $915,385 last year in basic salary, according to Elan’s latest annual report. When the bonus and other benefits were included, Mr Martin’s total package came to just over $1.96m — up from $1.66m in 2009.

The company’s other executive director, Shane Cooke — the company’s chief financial officer — saw his total package drop, slightly, from $1.66m to $1.2m; but still received a bonus payment (on top of his annual salary) of $540,000, although this was lower than the previous year.