The median chief executive compensation package, which gives a better picture of the pay landscape as it eliminates the distorting effects of outliers on the pay scales, was €1.61 million. By comparison the median salary in the Republic stood at €41,222 in 2021, according to the latest available figures from the Central Statistics Office .
However, Manifold, who is contracted to remain with the building materials giant until late next year when he reaches 62, is poised this year to drop off the Iseq 20 and FTSE 350 list of Irish companies used for this pay league as CRH moves its main stock market listing to New York from September. The company is dumping its Irish quotation and downgrading its London listing, which is expected to see it drop out of key FTSE indices.
However, the parent company of Paddy Power managed to secure the backing of over 90 per cent of shareholders at the meeting, with the help of the board’s strong defence of the move. Group chairman Gary McGann had highlighted at the time how Flutter’s market value had trebled since Jackson took in the chief executive role in 2018, while “total shareholder returns have significantly exceeded the average returns of the FTSE 100″.closed off the top-five highest earners with a pay package of €3.
The company posted almost €67 million of operating profits last year, following two years of losses, as revenues rebounded sharply on the back of an easing of Covid travel restrictions.compensation jumped by almost two-thirds to €1.61 million as his basic salary was hiked by 33 per cent to €600,000 and his bonus doubled to €900,000. The housebuilder delivered 1,150 new homes last year, up almost 50 per cent on 2021.
The terms of the of the lengthened contract also saw his base pay jump from the start of April to €1.2 million a year from €500,000 – but his maximum potential annual bonus has been scaled back to 50 per cent of salary from 100 per cent previously.