Paddy Power board paid €6.8m last year

THE board of directors at bookmaker Paddy Power received a combined total of just more than €6.82m in remuneration last year — almost €600,000 more than in 2009.

According to the company’s latest annual report, the three executive directors — chief executive Patrick Kennedy, chief operating officer Breon Corcoran and finance director Jack Massey — shared an annual performance related bonus pot of just under €900,000. This was despite the company recording record financial results last year — as already recently reported — with pre-tax profits soaring from €67.2m to €111.3m.

The latest annual report shows that Mr Kennedy’s overall package slipped slightly — from just over €1.42m to just under that figure. He received a basic salary of €678,000 and an annual bonus of €491,000.