Kerry chief executive to receive 9% pay rise this year

Kerry Group chief executive Stan McCarthy received a total remuneration package of $4.6 million (€4m) in 2015, up from $4.4 million (€3.9m)a year earlier.

The company’s annual report shows Mr McCarthy received €1.3 million in basic pay last year, broadly unchanged from 2014. He also received $768,000 in performance-related remuneration, up from $744,000 for the preceding year, and a pension of $273,000, down from $303,000.

Gerry Behan, group president and head of Kerry Ingredients and Flavours, received a remuneration package of $2.9 million, as against $2.6 million in 2014. His basic pay rose to $835,000 in basic pay, from $810,000 a year earlier. Performance-related remuneration rose to $522,000 from $373,000, while his pension totalled $174,000, down from $214,000 in 2014.

Chief financial officer Brian Mehigan total remuneration package totalled $1.8 million, compared to $1.6 million a year earlier. Basic pay rose to $522,000 from $512,000 while performance-related remuneration rose to $271,000 from $263,000 in the preceding year. Mr Mehigan's pension totalled $143,000, down from $145,000.

Head of Kerry Foods, Flor Healy, received a package worth $1.9 million, up from $1.5 million in 2014. This included a basic salary that rose to $557,000 from $546,000 a year earlier. Mr Healy also received performance-related remuneration of $243,000, versus $129,000 in the preceding year and a pension of $126,000, down from $129,000 in 2014.

Kerry said its remuneration committee has recommended a 9 per cent rise in Mr McCarthy’s salary this year. Mr Mehigan’s salary is to increase by 18 per cent. Salaries for executive directors are to rise by 2 per cent in line with inflation, the group said.