The take home pay of Aryzta chief executive Owen Killian this year has dropped sharply to €3.5m from more than €15.5m in 2012.
In the 2012 financial year Owen Killian had reaped a huge €15.5m in pay, bonuses and shares, making him the highest earning Irish chief executive for the year.
Killian's basic pay this year was actually unchanged at CHF1.277 (€1m) but lower bonuses saw total pay for the year fall to CHF4.339m (€3.5m) from CHF4.678m, according to the annual report published today.
The Irish Independent are saying today that the drop is because no big award of shares was made to the executive over the last year, and no old share awards were cashed in.
Share deals in 2012 were awarded after Owen Killian and his team were credited with transforming Aryzta from an Irish-focused firm into a global player that had revenues of over €3bn in the year to the end of July.
The whopping deals had put the little known Roscommon man ahead of the likes of Paddy Power boss Patrick Kennedy and even Ryanair’s Michael O’Leary in the earnings stakes.
