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.
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