CRH’s new chief executive, Jim Mintern, could receive total remuneration of up to $14.8 million this year if the company hits various performance and share price targets set down by the board, documents filed in the United States show.
This would represent an increase of just under 9 per cent on the package that the Irish building materials giant paid last year to Albert Manifold, who stepped down as chief executive at the end of 2024 and was regularly the best paid CEO among Irish public companies. Mr Manifold was paid $13.6 million last year, marginally down on 2023.
It would also represent a 159 per cent increase on Mr Mintern’s $5.7 million package in 2024, when he was the group’s chief financial officer. He took over as chief executive on January 1st.
Under his package, Mr Mintern will be paid a base salary of $1.75 million, and a pension payment of $175,000. In addition, he could earn a bonus of up to $2.62 million (150 per cent of his salary) if certain performance targets are met.
Long-term equity incentives valued at up to $10,237,500 are also included in the package. These are linked to stretch targets across cash flow, its return on net assets and total shareholder returns.
Mr Mintern’s total fixed pay in 2024 was $1.2 million – comprising a base salary of just more than $1 million, benefits of $138,529 and a pension payment of $100,022. He also received a €1.98 million bonus and €2.4 million under the company’s long term share plan (LTSP).
Mr Manifold’s package last year comprised a base salary of just more than $1.9 million, a bonus of $4.3 million, $6.6 million as part of its LTSP, and $466,147 in benefits. His pension payment was nil. In addition, CRH paid $359,367 in third-party security costs at Mr Manifold’s home.
He was retained as an adviser to the business for a 12-month period from his departure.
Although based in Dublin, CRH’s primary listing is in New York, requiring it to comply with rules set down by the Securities and Exchange Commission when publishing details of executive remuneration. It delisted from the Dublin market in 2023. Details of the remuneration packages are included in CRH’s proxy statement, which was filed with the SEC on Friday.
The company’s share price rose 34 per cent last year while it has a market value of more than $66 billion.
Mr Manifold joined CRH in 1998 and took over as chief executive in January 2014. Mr Mintern has spent 23 years with CRH, joining the board in 2021 and serving in a number of leadership roles across the business.
CRH has been chaired since January 2020 by former Bank of Ireland chief Richie Boucher. He received $794,000 last year as chairman, including fees of $769,000 and other compensation of $25,000.
The former Glanbia chief executive Siobhan Talbot received $176,000, comprising $160,000 in fees and $16,000 in other payments. Just under $2.7 million was paid to CRH’s non-executive directors last year.
