Wednesday 22 November 2017

Executive payments a bombshell for farmers

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Editorial

Editorial

As the incomes of dairy farmers collapse, the news that nine Ornua executives were paid an average of over €1m in remuneration over two years comes as something of a bombshell. While chief executive Kevin Lane has claimed "full transparency" on the payments, we do not actually know precisely how much each individual was paid.

He also claimed that they had been benchmarked against industry peers. They clearly were not benchmarked against the farmer who must work seven days a week to produce milk which barely covers the cost of production.

As such farmers struggle to survive after an annus horribilis given the flooding crisis, these huge sums are likely to make eyes water in families all across the country.

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