Glanbia Chief gets over €1m

JOHN Moloney, managing director of Glanbia Plc was paid E1.159 million euro last year by the Kilkenny city based company. It is almost double the amount he received in remuneration in 2009 - E587,000.

JOHN Moloney, managing director of Glanbia Plc was paid E1.159 million euro last year by the Kilkenny city based company. It is almost double the amount he received in remuneration in 2009 - E587,000.

Kevin Toland, head of Glanbia’s hugely successful US operation received just over E900,0000 last year while Siobhan Talbot, the group financial director with Glanbia received a total of E652,000 last year compared to E164,000 the year before.

Mr Moloney is one of the most successful MDs in the country and it is thought that a number of leading national and international companies would jump at a chance to bring him on board. His package for 2010 included a salary of E452,000 and a bonus of E580,000. It also entailed a pension payment of E90,000 and other benefits of E33,000.

Trading profits at Glanbia for 2010 were up from the year before by 22.8% to €136.5 million and revenue for last year climbed by 18% to E2.17 billion compared to 2009. Pre-tax profits, which included some once-off items, were E134.million, down from E143 million in 2009. Earnings per share rose 24% to 38.07 cent and a full year dividend of 7.52 cent has been proposed.

Mr Toland received E344,000 in salary last year. He also received a bonus of E430,000 along with a payment of E73,000 to his pension plan and E60,000 in other benefits. His total package for 2009 was E472,000 half of what he received in 2010.

Financial controller, Siobhan Talbot received a salary of E251,000 in 2010 and received a bonus of E326,000 along with a pension contribution by the company of E60,000 and other benefits totalling E15,000. She received E164,000 in 2009. The three also have shares in the company under share option plans and LTIPs (Long Term incentive Plans).

The chairman of the board of Glanbia, Waterford farmer Liam Herlihy, received 79,000 from the company in 2010. The average payment to board members of Glanbia Plc was E18,000.