Arzyta chief executive Owen Killian paid €3.9m
ARYZTA chief executive Owen Killian had his pay packet for last year nearly halved a year after his €7m earnings stirred huge controversy.
Mr Killian, who has led the speciality baker since it was formed in 2008, earned €3.9m in 2011/2012. That compared to a total of €7.13m the previous year.
While the executive’s basic salary remained unchanged at €1.3m, his bonuses were reduced significantly.
Last year he earned nearly €6m in bonuses and a long term incentive plan that matured, but fell to barely €3.6m in the last 12 months.
Aryzta has grown hugely in recent years, but its shareprice took a battering last week after the company reduced its guidance for 2013 and pushed back a long term earnings per share target of 400c.
The company posted operating profit for the 12 months to the end of June of €374.8m, an increase of 16.3pc year on year, while revenues climbed 11pc to €2.87bn.
Aryzta is best known in Ireland for the Cuisine de France line of breads and pastries.