Kingspan CEO Gene Murtagh earned total of €1.915m in 2016
Insulation manufacturer Kingspan’s report shows hikes in salaries and fees of executives
Gene Murtagh: chief executive’s pay rose more than 9 per cent last year to €1.915 million, the Kingspan group’s annual report shows. Photograph: Alan Betson
Kingspan chief executive Gene Murtagh’s pay rose more than 9 per cent last year to €1.915 million, the group’s annual report shows.
The insulation manufacturer’s annual report shows it paid Mr Murtagh €698,000 in salary and fees. Meeting agreed earnings per share and profit targets earned him €698,000 cash bonus and €349,000 in deferred shares.
Benefits and pension contributions brought the total to €1.915 million, 9.75 per cent more than the €1.745 million that Mr Murtagh received the previous year.
Geoff Doherty, the chief financial officer, earned a 4.9 per cent increase in his package to €1.445 million from €1.378 million. Kingspan paid him a salary of €514,000 and a cash bonus of the same amount. He received deferred shares of €257,000 while benefits and pension contributions raised his total to €1.445 million.
Overall executive pay at Kingspan rose 4.7 per cent to €7.25 million from €6.9 million. Divisional head Russell Shiels actually took a modest pay cut to $1.515 million from $1.528 million.
Peter Wilson, managing director of its insulation business, saw his pay increase by 4.5 per cent to £1.012 million.