The four executive directors of IAWS received a 25 per cent pay rise in 2001 to share €1.95 million (£1.55 million). The annual report shows that group managing director, Mr Philip Lynch, received a package worth €871,000 (£686,000), finance director, Mr David Martin, earned a package worth €450,000, chief operations officer Mr Owen Killian's remuneration was €356,000, while executive director Mr Ronan McNamee received €229,000.