Glanbia directors get salary boosts

EXECUTIVE directors at Glanbia enjoyed significant salary boosts during 2010, according to the annual accounts published yesterday.

Group managing director John Moloney saw his remuneration for the year rise to €1,159,000, up from €587,000 in 2009. Chief executive and president of Glanbia USA and Global Nutritionals Kevin Toland’s overall package came to €907,000 in 2010, up from €472,000 the previous year. Finance director Siobhán Talbot’s total remuneration came to €652,000 last year, up from €164,000 in 2009.

John Moloney’s total accrued pension to January 1, 2011, came to €338,000. Kevin Toland’s pension came to €118,000 at the same date. Siobhán Talbot’s came to €117,000.

The report states: “Our strong performance in 2010 is mainly as a result of a return to profitability in Dairy Ingredients Ireland after a first time loss in 2009 and a good performance by the Global Nutritionals business which grew revenue well in excess of market growth rates.”