One51 pays €2.51m to sacked Lynch

Philip Lynch pocketed over €2.51m in payments last year from One51, the investment firm which sacked him last summer.

According to the Dublin-headquartered environmental and niche investment group’s latest annual report, which has just been published, total remuneration for Mr Lynch, who was ousted as chief executive in July 2011, amounted to just over €2.514m for 2011. Mr Lynch’s total remuneration for 2010 — his last full year in charge of the company — came to just shy of €1.48m.

In basic salary terms, Mr Lynch received €355,750 for last year’s truncated period in charge. Benefits in kind added another €30,666 to that and he received €623,700 in “payments related to share transactions”.