Elan chief Martin’s pay falls to $2.3m

Elan’s chief executive Kelly Martin was paid just over $2.3m (€1.78m), last year — 20% less than in 2011.

It was reported last month that Mr Martin pocketed just under $2.2m last year, which equated to a 24% pay cut from the $2.88m package he received in 2011. However, an error in the remuneration report of Elan’s 2012 annual report led to the document being republished yesterday.

Instead of a bonus of $1.12m, as initially thought, it actually came to $1.25m. His basic salary of $1m was unchanged.