DCC chief executive paid more than €3m last year

Energy-to-tech group’s chief financial officer paid €2.7m

DCC chief executive Donal Murphy last year got an €840,000 basic salary, a bonus of more than €1.3 million, and €722,000 under a long-term incentive scheme. Photograph: Eric Luke

DCC chief executive Donal Murphy last year got an €840,000 basic salary, a bonus of more than €1.3 million, and €722,000 under a long-term incentive scheme. Photograph: Eric Luke

 

The total pay packet of Donal Murphy, the chief executive of diversified energy-to-tech group DCC, reached €3 million last year.

The company’s chief financial officer, Fergal O’Dwyer, was paid €2.7 million, according to DCC’s annual report, which was released on Thursday.

The pay awards place the duo among the ranks of best-paid Irish executives at listed companies, although DCC is no longer on the Irish stock exchange and maintains its listing in London.

They still have a way to go, however, to match the €5.3 million pay packet of 2017 enjoyed by Tommy Breen, Mr Murphy’s predecessor as chief executive, who retired that year.

According to the annual report, Mr Murphy picked up an €840,000 basic salary, a bonus of more than €1.3 million, and €722,000 under a long-term incentive scheme, on top of pensions payments and other benefits.

Mr O’Dwyer’s €522,000 salary and €812,000 bonus were well behind those of his chief executive, but his pay was boosted by €575,000 of restricted retirement stock that was not awarded to Mr Murphy.

Next year

An estimate of their potential earnings for next year shows that, if all of the maximum targets were hit on the awarding criteria, Mr Murphy could be paid €5.17 million in 2020 while Mr O’Dwyer could potentially earn €3.72 million.

DCC director Leslie Van de Walle, chairman of its remuneration committee, noted that operating profits were up 20 per cent while return on capital employed, a key metric for DCC, was up 17 per cent.

Group chairman John Moloney was paid €308,000, while the other non-executive directors received between €72,000 and €110,000 for a full year in their roles.