Dough keeps rising for Aryzta's Killian
AT first look, it would seem that poor old Aryzta boss Owen Killian saw his basic pay package drop to €1.83m in 2010, falling from €3.09m last year.
Making croissants and baguettes is less lucrative than it once was. But there was also the small matter of 300,000 options granted to him under the Aryzta "option equivalent scheme".
At current prices of just over €30 per share, these awards are worth north of €9m once triggered. These options lock Killian into the firm for up to nine years and come with all kinds of strings attached.
His number two, Patrick McEniff, bagged 250,000 options under this scheme, valued at up to €7.5m when ultimately cashed in.