Executive pay rises by 8% at Glanbia
The nutrition, dairy and ingredients-led group paid its four-member executive team, led by managing director, Siobhan Talbot, a combined €4.22 million last year; roughly 7.65% more than the €3.92m paid out in remuneration the previous year.
Ms Talbot saw her total pay package — including €750,000 in basic salary and additional pension contributions, incentives and other benefits — jump from €1.03m to over €1.62m; although much of this increase covered her elevation from finance director to group managing director.
Brian Phelan, CEO of Glanbia Global Ingredients, saw his pay cut from €876,000 to €840,000, while Hugh McGuire, head of Glanbia’s Performance Nutrition division, saw his pay go from €584,000 to €926,000. Mr McGuire was promoted to his current post in June of 2013, with last year being the first full year he was in charge of the division.
Mark Garvey, Glanbia’s group finance director, appointed in late 2013 grew his remuneration package from €129,000 to €833,000.
Glanbia — which recently announced the €29m sale of its 50% stake in Nutricima, its dairy-based joint-venture in Nigeria — is looking to expand further, both organically and through acquisition in its core areas of performance nutrition and ingredients. The group recently reported a 7% jump in revenues, to €3.52m for last year, with earnings rising by over 8% to €245m. The group will hold its AGM at Kilkenny’s Lyrath Estate Hotel on May 12.
