Business Irish

Saturday 3 December 2016

Paddy Power's €18.7m bonus pool

Published 20/03/2011 | 05:00

AS Irish horses romped home at Cheltenham, Paddy Power boss Patrick Kennedy and his key lieutenants at the bookies bagged up to €11.5m under bumper executive bonus schemes.

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Kennedy, operations chief Breon Corcoran, and finance head Jack Massey were awarded €5.1m worth of shares under the long-term incentive scheme.

A further conditional award of €6.4m worth of shares may also kick in, subject to hitting certain targets.

Kennedy received awards of up to €5.7m worth of shares, split between €2.5m in shares vesting now and up to €3.2m more by 2014.

The bookie and his executive team are sitting on a bonus pool of up to €18.7m, dependent on pretty racy future earnings.

Sunday Indo Business

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