Glanbia’s top executives receive pay hikes as group revenue grows

Glanbia’s top four executives received handsome pay hikes amid another year of strong revenue growth for Kilkenny-based food group.

According to its latest annual report, managing director Siobhan Talbot saw her total pay packet rise 16 per cent to nearly €1.9 million last year.

Her total 2015 remuneration included a basic salary of €750,000, a bonus of €563,000 and a pension contribution of €199,000.

The package also included €351, 000 worth of deferred stock options awarded as part of the group’s executive incentive scheme.

Ms Talbot took over at the helm in 2013 after long-time boss John Moloney stepped down.

Group finance director Mark Garvey received a total pay packet of €984,000 last year, which included a basic salary of €400,000 and a bonus of €300,000.

This represented an 18 per cent increase on his 2014 pay packet, which was €833,000. Mr Garvey was appointed group finance director in late 2013.

Hugh McGuire, head of Glanbia’s Performance Nutrition division, enjoyed the biggest pay increase with his total remuneration package rising 40 per cent to €1.3 million last year.

Mr McGuire received a basic salary of €479,000 as well as pension contributions of €72,000 and a bonus of €359,000 during the year. He also received an overseas allowance of €135,000.

In 2013, Mr McGuire was promoted to his current post, and that year he received a salary of €584,000.

Brian Phelan, chief executive of Glanbia Global Ingredients, saw his pay rise 6 per cent to €891,000 last year.