Six executive directors of building materials group CRH received total remuneration of €6.74 million in 2004, up from €5.33 million in 2003, an increase of almost 27 per cent. However, there were seven directors sharing the 2003 remuneration.
The company passed the €1 billion profit mark for the first time last year, after posting growth of almost 20 per cent.
Chief executive Liam O'Mahony received a total package of €2,039,000 last year, up from €1.638 million in 2003, a rise of almost 25 per cent.
Under a long-term incentive plan Mr O'Mahony will receive an additional €1.44 million this year for reaching a number of strategic goals over a five-year period to the end of 2004. The company has also announced a further two-year incentive scheme. It features payments of up to 40 per cent of his aggregate basic salary if certain targets are achieved over the period.
Mr O'Mahony's package comprised basic salary of €1.05 million, an incentive bonus of €646,000, €322,000 in pension contributions and benefits (company car, medical scheme etc) of €21,000.
John Wittstock, head of Europe products and distribution, was the next highest paid with total remuneration of €1,175,000, up from €988,000 in 2003. His package included a basic salary and fees of €571,000, an incentive bonus of €428,000 and pension contributions of €114,000.
Tom Hill, chief executive of Oldcastle Materials, received remuneration of €1.026 million, up just €2,000 on his previous year's earnings. It comprised basic salary and fees of €595,000, a €297,000 incentive bonus, pension contributions of €119,000 and benefits of €15,000.
Finance director Myles Lee, who became a board director in November 2003, saw his remuneration increase from €59,000 that year, to €870,000 last year. His package included €470,000 basic salary, a €284,000 incentive bonus and €103,000 in pension contributions.
Dick Doyle, who became a director in January 2004, earned a total package of €867,000. This included a basic salary of €457,000 and an incentive bonus of €279,000.
