The executive and non-executive directors of the Independent News & Media group shared total payments of €7.9 million in 2002, a 41 per cent increase on the previous year.

The group, which reported a 64 per cent drop in profits to €22.2 million last year, has revealed that it paid €2.6 million to departing executives and that its seven executive directors shared total payments of €4.2 million.

The 16 non-executive directors shared total fees and remuneration of €1.1 million which was broadly unchanged on 2001.

The former non-executive chairman of its Irish operations, Mr David Palmer received €954,000 on his departure last year. A further €1.6 million was paid to Mr John Sanders, an executive director at APN News & Media, who retired from the group because of ill health, while Mr Jack Gilroy, who resigned as executive director, was paid €83,000.

Chairman and chief executive, Sir Anthony O'Reilly, received a total package of €876,000 which included a salary of €800,000 and fees of €76,000, and was unchanged on 2001.

Among the other executives, Mr Vincent Crowley, chief executive of Independent News & Media (Ireland) received the highest payment of €805,000, up 48 per cent on the previous year and was the only executive to be paid a bonus. His package included a salary of €508,000, a bonus of €150,000, fees and other benefits of €64,000 and a pension of €83,000.

Mr Gavin O'Reilly, the group's chief operating officer's package increased by 50 per cent from €440,000 to €659,000 which included a salary of €532,000, benefits and fees totalling €46,000 and a pension contribution of €81,000.

Mr Brendan Hopkins, chief executive of its APN News & Media operations, was paid €641,000, down 19 per cent, on 2001 which included a salary of €455,000 and a pension contribution of €117,000.

Mr James Parkinson, chairman of APN News & Media, received €634,000, up 5 per cent and includes a salary of €494,000.

Mr Ivan Fallon, chief executive, Independent News & Media (UK), was paid €458,000, some 4 per cent below his previous year's earnings.

In the report, the directors refer to Sir Anthony's dual roles of chairman and chief executive which is frowned on by the Irish Association of Investment Managers. It noted that this was a common practice in many US companies and states that the board believes this is fully justified because of his enormous contribution to the group.