Glanbia’s annual report for 2016 shows that the top executives at the nutrition and ingredients company received a total remuneration of €5.8m in 2016 – an increase of €0.7m on 2015.

Siobhan Talbot, group managing director, received a total salary of €2m, €140,000 more than 2015. This was made up from a base of €761,000, pension contributions, incentives and other benefits.

Hugh McGuire, who heads up the group’s highly successful performance nutrition division, received a base salary of €494,000. Once pensions and benefits were included he received a total remuneration of €1.6m, an increase of €277,000.

Mark Garvey, group financial controller, had a total remuneration of €1.2m, from a base of €438,000. Brian Phelan, chief executive of the ingredients division had a base salary of €396,000 and once bonuses and pension are added in, he had a total remuneration of €980,000.

According to the report, Henry Corbally, group chairman, received €105,000 in fees last year, while the vice chairman, Martin Keane, received €52,000.

Last week, Glanbia reported a near 13% increase in profits (EBITA) for its 2016 financial year to €350m, as profit margins widened 100 basis points to 9.5%.

Glanbia is proposing to sell 60% of its Dairy Ireland consumer and agribusiness division to Glanbia co-op.

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