Kerry Group directors take 14% pay cut despite growth

The executive directors of Kerry Group Plc have been on the receiving end of a 14% pay cut despite the fact that the company recorded pre-tax profits of €449.1m.

The directors had their salaries cut although they achieved over 10% growth in the year. A company spokesman said that despite the strong growth the directors hadn’t met their key performance indicators.

“The company enjoyed strong performance in 2011 but relative to the growth indicators achieved in 2010 the performance across the group’s key performance indicators metrics was slightly lower than those achieved in 2010. Currency translation have also effected the issue as well,” he said.