Smurfit Kappa slashes directors’ pay by 39%

Executive pay levels at Smurfit Kappa Group declined by nearly 39% last year, amid a shake-up of the group’s management.

The Dublin-headquartered international paper and packaging group’s latest annual report, published yesterday, shows that combined pay for the three-man executive team of Gary McGann, Tony Smurfit and Ian Curley amounted to just shy of €10m in 2015.

This figure was down by nearly 39% on the €16.4m paid out in 2014.