Saturday's Irish Times Business Today reports that CRH chief Albert Manifold's €9.3 million pay package is under scrutiny from a leading shareholders advisory group (Glass Lewis) because company earnings have been hit in the Covid 19 pandemic. Glass Lewis said it remains "particulary concerned" about Mr.Manifold's €677,000 pension benefit for last year.
Last December the Irish Congress of Trade Unions published its fourth annual report on Irish chief executives" pay - Because We"re Worth It: The truth about CEO pay in Ireland.
When the report was published Congress researcher, Eileen Sweeney, who has tracked the changes in the pay packets of each chief executive since 2015 said: 'the cement giant, CRH continues to have the highest CEO-to-average-worker pay ratio, at 212-to-1. 'that is, it would take a typical worker 212 years to earn what the CRH boss took home in 2018.
Based on the 2018 filed accounts of 26 companies – 20 of some of the biggest companies listed on the Irish Stock Exchange and 6 Irish based companies listed on the London Stock Exchange - the report shows that annual pay and benefits were close to or above €1 million for 22 of the 26 CEOs, and as much as €8.2 million.
Congress researcher, Eileen Sweeney, who has tracked the changes in the pay packets of each chief executive since 2015 said: 'the cement giant, CRH continues to have the highest CEO-to-average-worker pay ratio, at 212-to-1. 'that is, it would take a typical worker 212 years to earn what the CRH boss took home in 2018.
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