Aryzta CEO’s pay package rises to €5m

Strong growth in the group’s food division sees Owen Killian increase his annual earnings by 30%

Aryzta chief executive  Owen Killian saw his earnings rise by 30 per cent in 2014 on the back of a strong performance from the Swiss-based food group. Photograph: Eric Luke / THE IRISH TIMES
Aryzta chief executive Owen Killian saw his earnings rise by 30 per cent in 2014 on the back of a strong performance from the Swiss-based food group. Photograph: Eric Luke / THE IRISH TIMES

Strong growth in Aryzta's food division saw chief executive Owen Killian grow his earnings substantially in the year to July 31st 2014, as his total pay package increased from CHF4.3m (€3.5m) to CHF6.1m (€5m).

While both Mr Killian’s basic salary, and his benefits in kind, stayed the same at €1m and €68,524 respectively, he saw both his performance related bonus, and long-term incentives increase significantly.

His bonus jumped from €0.6m in 2013, to match his salary at €1m in 2014, while his long-term incentives increased from €1.7m to €2.7m. This performance related bonus is based on growth in the group’s food division (which advanced by 14.2% during the year) and is capped at 100 per cent of salary.

Mr Killian’s pension contributions remained level at €158,507.

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The executive management team, excluding Mr Killian, received total basic salaries of €2.7 million in 2014, which was matched in a performance related bonus of the same amount. The team also shared long-term incentives of €7m.

These figures don't compare on a like for like basis with 2013, as the management team for 2014 also includes John Yamin, chief executive of the Americas, as well as Patrick McEniff (group CFO/COO) and Pat Morrissey (group general counsel, CAO).

Fiona Reddan

Fiona Reddan

Fiona Reddan is a writer specialising in personal finance and is the Home & Design Editor of The Irish Times