Saturday 18 November 2017

Murray making a mint as pay packet tops cool €7m

IT IS all looking rosy over at ICON, the Dublin drug developer that in two decades has grown from start-up to behemoth. Net profits in the most recent quarter jumped by more than a fifth at the company, which started out with a team of five and now employs more than 10,000 people around the globe.

Despite these humble roots, ICON executives make market-leading salaries. It emerged earlier this year that chief executive Ciaran Murray is the highest-paid CEO in the country. His €7m pay packet last year was larger than that awarded to chief executives of the 15 biggest Irish companies listed on the ISEQ.

Mr Murray's background will be encouraging to those reading from the Quinn School of Business or the Michael Smurfit campus: he is a UCD commerce alumni.

Like many CEOs he qualified as a chartered accountant, before stints in senior finance roles at multinationals such as Kraft, Novell, Northern Foods and Codec Systems.

It is nice to see that the NASDAQ-listed company's board and management is still firmly in Irish hands.

Chief financial officer Brendan Brennan is a former CRH man and also worked for PWC, while chairman Thomas Lynch is the former chief executive of pharmaceutical company Amarin and an ex-IDA Ireland director.

Irish Independent

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