Bulmers Maker C&C Group Increased Executives Pay By 15% Last Year
Drinks group C&C paid its executive directors a combined €2.53m last year, an increase of almost 15% on the previous year, according to the Irish Examiner.
Only two of the five-member executive board held a seat for the whole year, chief executive Stephen Glancey and managing director of C&C’s international division Joris Brams.
Chief operating officer Andrea Pozzi joined in June, while new chief financial officer Jonathan Solesbury joined the board in November.
The Examiner reports that C&C reviewed base salary levels at the start of its last financial year and awarded a 1% increase, however foreign exchange effects mean that the figures are slightly misleading.
Glancey’s basic salary for the previous financial year was £590,850 which converted at the average exchange rate to €708,283. This year he earned up to £596,759, which shows the 1% rise, however a weaker exchange rate results in a slight decline to €677,365 in euro.
Joris Brams’s total package last year including salary, annual bonus and benefits jumped by 14.5% to €456,000.
The Bulmers and Tennent’s maker released its full-year report last month, which saw its revenues fall by 4.9% to €548.2 million for the 12 months ending 28 February, 2018. The group’s performance was heavily offset by adverse weather effects.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.