Wednesday 7 December 2016

Who are the most overpaid bosses?

Published 18/04/2010 | 05:00

McInerney boss Barry O'Connor got a pay rise last year -- despite the building company losing more than €191m, breaching bank covenants and not paying a dividend. Mr O'Connor received €574,414 in 2009, an increase of a symbolic euro.

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Mr O'Connor's pay equates to about 2.2 per cent of the value of the company -- if CRH chief executive Myles Lee were to take home an equivalent package, he would need a JCB to carry his €303m.

McInerney's directors, including Ned Sullivan, shared €3.03m -- well up from the €2.23m a year earlier, despite this shambolic performance. Some €843,000 of this increase was made up by a "termination payment" to one of its departing directors.

Fyffes boss David McCann saw his total remuneration rise to €1.27m -- more than 1 per cent of the value of the €124m firm. By comparison, Norkom's Paul Kerley and his team were paid a combined €1.02m, and their company is bigger than Fyffes.

Sunday Independent

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