CRH board pay rises 10%

THE four executive directors of building materials group, CRH, shared a total remuneration package worth £2.65 million in 1996.

According to its annual report, the directors - chief executive Mr Don Godson, finance director Mr Harry Sheridan, Oldcastle chief executive Mr Liam O'Mahony and Mr Brian Hill, managing director of CRH mainland Europe - were paid an average salary of £246,574, an increase of 10 per cent on the previous year.

They also shared performance related incentives of £817,807, up from £811,235 in 1995. Executive directors can receive up to a maximum of 35 per cent of their basic salary for meeting profit targets.

Under this plan they shared £356,411 following a 25 per cent profit increase to £193.4 million over that period. They were also paid an additional £461,395 on the achievement of other long term specified group targets.

CRH's annual report also shows that the four directors received other remuneration of £52,184.

In the previous year it reported a total other remuneration payment of £367,613, which included an unspecified payment to the family of CRH's late chairman, Mr Des Traynor.