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.
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).
