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Scanlon’s remuneration at Kerry Group jumps 55pc

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Kerry Group CEO Edmond Scanlon

Kerry Group CEO Edmond Scanlon

Kerry Group CEO Edmond Scanlon

The chief executive of Kerry Group, Edmond Scanlon, saw his remuneration jump 55pc last year to €3.9m.

This includes a basic salary of €1.1m, as well as pension contributions and other benefits.

2019 was Mr Scanlon’s second year at the helm of Kerry.

It was notable for an ambitious but ultimately fruitless bid to buy the nutritional arm of US rival DuPont.

Kerry has never confirmed making a bid for its $24bn rival. However, annual results published in February include a note of €17.6m spent by Kerry in relation to "a material transaction process that the group participated in".

That bill included "deal preparation, integration planning and due diligence". Wall Street giant Goldman Sachs advised Kerry on the DuPont bid.

The deal would have transformed the Irish company but Kerry ultimately lost out in December to US rival International Flavors & Fragrances (IFF).

Kerry reported record profits of €903m for 2019.

In October 2017 Mr Scanlon took over the reins of Kerry, having first joined the group on its graduate programme in 1996.

In 2012, he was appointed president of Kerry China, before he took on the role of president and chief executive of Kerry Asia-Pacific region in November 2013.

Meanwhile, Kerry still plans to hold its AGM at the Brandon Hotel in Tralee next month.

However, as further measures are implemented across the country to try stop the spread of the coronavirus, the company said it will “closely monitor” how things develop over the coming weeks.

It is advising shareholders to submit their proxy votes to ensure their vote counts at the AGM and to avoid the need to attend the meeting in person.

Online Editors