€105k rise for Glanbia director

Glanbia’s group finance director Siobhán Talbot saw her earnings rise by over €100,000 last year.

The group’s managing director John Moloney received an extra €35,000 in his remuneration package for steering the company to strong growth through choppy economic waters.

Mr Moloney’s pay package rose to nearly €2m as the food and supplement company’s growth increased 26.7%. Glanbia’s operating profit rose to €166.8m and revenue rose to €2.7bn.

The total remuneration package for the three executive directors increased by €158,000. The lion’s share of this increase went to Ms Talbot, taking her total earnings from €652,000 to €757,000.

The third executive director, president of Glanbia USA and nutritionals Kevin Toland, received an €18,000 salary rise, taking his annual total earnings to €925,000.

The remuneration of the 25 non-executive directors rose by €256,000. Mr Moloney said Glanbia was well positioned. “The group’s focus on driving growth in nutritionals combined with deep dairy market expertise and strong execution capability, positioned us well for the future,” he said.

Glanbia achieved growth of 26.7% in 2011 and the acquisition of US supplements producer BSN has positioned the company to capitalise on that rapidly expanding market.

The group’s US cheese and nutritionals division increased its revenues to €1.4bn.

Last year, marked the end of a decade of change for the company, with a strategic shift towards the nutritional business. Glanbia’s strategy is to build a global dairy and nutritional business based on the dairy sector.