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Kingspan head's €1m 'golden hello' cash

GEOFF Doherty (above), the Kingspan finance chief who joined the insulation firm last year from Greencore, bagged a near-€1.2m "golden hello".

Doherty, who left Greencore as it sought to merge with rival Northern Foods, was conditionally awarded 150,000 Kingspan shares last November. Those shares were awarded at €6 per share but are now worth close to €1.2m.

There are restrictions in place on Doherty disposing of the shares and claw-back arrangements are in place should he leave Kingspan before December 31, 2013. Last year, Doherty was paid €1.13m by Kingspan, including a €490,000 bonus.

Sunday Indo Business