Kingspan chief executive paid €1.38m last year

Gene Murtagh paid performance-related bonus of €595,000

Kingspan chief executive Gene Murtagh was paid a pension contribution of €127,000 and other allowances of €26,000 in 2012. Photograph: Leon Farrell/Photocall Ireland

Kingspan chief executive Gene Murtagh was paid a pension contribution of €127,000 and other allowances of €26,000 in 2012. Photograph: Leon Farrell/Photocall Ireland

Fri, Apr 5, 2013, 21:06

Kingspan chief executive Gene Murtagh saw his pay dip very slightly to €1.383 million in 2012, according to the company’s latest annual report.

Mr Murtagh received a basic salary of €635,000, the level at which it has been frozen since 2008. He was also paid a performance-related bonus of €595,000, a pension contribution of €127,000 and other allowances of €26,000.

His total pay in 2011 was €1.39 million.

Chief financial officer Geoff Doherty was paid a total of €1.098 million in 2012, comprising a basic salary of €490,000, a bonus of €459,000, a pension payment of €123,000 and allowances of €26,000.

Kingspan’s total executive pay bill last year was €4.496 million across five individuals. In 2011 it amounted to €6.374 million across seven directors.

Eugene Murtagh, Kingspan’s founder and chairman, was the best-paid non-executive director at the company last year, receiving total payments of €334,000.

Kingspan engaged Mercer to produce a “benchmark” report on its executive pay policies last year. The report concluded that Kingspan should be compared to similarly-sized companies in its industry, while having cognisance of other Irish plcs.