Tuesday 17 October 2017

Origin boss Tom O'Mahony's pay falls 80pc from €3.16m heights

Tom O'Mahony, CEO of Origin Enterprises
Tom O'Mahony, CEO of Origin Enterprises
Gavin McLoughlin

Gavin McLoughlin

Origin Enterprises chief executive Tom O'Mahony saw his pay decline nearly 80pc last year, according to the company's newly released annual report.

O'Mahony's remuneration package came to €701,000 in the year ending July 31 last, down from €3.16m last year, the report says.

O'Mahony was paid no bonus last year, nor did he receive any compensation under Origin's long-term incentive plan (LTIP).

Kate Allum, chair of Origin's remuneration committee, said the 2016 financial year "had a number of challenges including a very difficult planning and operating environment for primary food producers, along with adverse and unseasonal weather conditions, which combined with weak farm sentiment, resulted in a highly challenging and competitive trading environment".

Earnings per share at the agri-services business declined from 60.1c to 44.5c in 2016.

"Based on these results, no bonuses were paid to executive directors in respect of the 2016 financial year," Allum said.

She added that no LTIP awards had vested in O'Mahony based on the 2016 financial performance.

Sunday Indo Business

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