C&C drinks group executive pay drops as bonus targets are missed

Executive pay levels at Irish drinks group C&C fell nearly 15% in its last financial year, to just over €2.2m, after management missed yearly performance targets resulting in non-payment of bonuses.

The cider and lager maker — chiefly known for its Bulmers/Magners cider and Tennent’s lager brands — last month reported a near €73m net loss for the 12 months to the end of February, driven by a €129m write-down in the value of its US business, the second such move in two years.

The group’s newly published annual report shows that chief executive Stephen Glancey’s salary fell to €708,000 last year from €803,000 and his total annual package dropped to €1.05m from €1.23m.