Glanbia chief executive Mr Ned Sullivan, who resigns from his position at the end of June, received a total remuneration package of £383,000 (#484,400) last year, the Glanbia annual report discloses. Mr Sullivan received a salary of £240,000, a performance bonus of £70,000, pension contributions of £59,000 and £14,000 in other benefits.

Glanbia finance director Mr Geoff Meagher received a total of £194,000 including a salary of £135,000. Mr John Moloney, who succeeds Mr Sullivan as chief executive in July, received £218,000 including a £137,000 salary while Mr Billy Murphy received a total of £211,000 which included a salary of £146,000.

Glanbia has announced that Mr Murphy is to take over as chief executive of Glanbia's food ingredients division, the position currently occupied by the chief executive designate, Mr Moloney. Mr Kevin Toland takes over Mr Murphy's position as chief executive of the group's consumer foods division.