One More Thing: Kerry’s greenbacks doing nicely
Kerry Group’s annual report lists the pay of its executives
Kerry Group CEO Stan McCarthy: down for a chunky €3.28 million. Photograph: Niall Carson/PA Wire
The annual reports are flying through the letter box thick and fast these days. This week it was the Kerry Group’s.
It confirmed all the usual details such as its near €5.8 billion revenues, operating profits of more than €600 million, and so on.
The report also listed the pay of its executives. Stan McCarthy, the chief executive, is down for a chunky €3.28 million, down slightly on 2013. Gerry Behan, the chief executive of Kerry’s ingredients business, was paid €1.98 million. A note to the remuneration report, however, says Behan and McCarthy are really paid in dollars not euro. McCarthy appears to be based full-time in Chicago, while Behan lives in Wisconsin, near Kerry’s US base.
McCarthy was really paid $4.36 million, while Behan received $2.63 million. On yesterday’s ’s exchange rate McCarthy breached the €4 million mark, while Behan picked up close to €2.5 million.
As the dollar strengthens further the two lads will get more bang for their buck whenever they return to Ireland for board meetings.