Latest news with #performancebonuses
Irish Times
03-06-2025
- Business
- Irish Times
Eamon Ryan backed higher CEO pay at some State firms
Former Minister for Transport Eamon Ryan urged that Government departments and agencies should have greater freedom to offer more competitive packages including performance bonuses and increments when seeking CEOs for commercial State bodies. Martin Wall reports. Martin also reports that a legal challenge brought by Elon Musk's social network platform against the online safety code introduced by the country's media regulator is scheduled to commence on Tuesday. Twitter International Unlimited Company, which operates X, alleges in High Court proceedings that Coimisiún na Meán engaged in 'regulatory overreach' in its approach to restrictions on certain video content. Cork-based packaging group Zeus has completed bolt-on acquisitions in England and Spain that will add €20 million to its annual revenues, which will be in excess of €500 million this year. Ciaran Hancock has the details. Pizza maker Crust & Crumb is spending €12.5 million on boosting production as it extends a deal with supermarket chain Tesco. As Barry O'Halloran writes, the Ballyconnell, Co Cavan-based company will hire 120 more workers and double the size of its production facility to 7,430sq m after agreeing to supply Tesco with new premium pizza varieties. READ MORE Job numbers in occupations exposed to artificial intelligence (AI) in Ireland have grown 94 per cent since 2019, and the technology is making workers better able to command higher wage premiums, according to a new report from PwC. Colin Gleeson has read the report. Ireland's largest business lobby group, Ibec has called on the Government to increase the amount of public investment into research and development as Ireland drops below the European average for public spend per capita. Hugh Dooley reports. London-based pan-Asian restaurant chain, Tootoomoo is planning an expansion into the Irish retail lunch market following success with J Sainsbury in the UK. Hugh reports. While we may not be too focused on what's happening in Hungary, Hugh Linehan outlines why we should worry about the government there and its plans to control media in the country. In Your Money, there will be plenty of people taking their first job this summer, but what should you expect ?How much should you be paid? Will you be taxed? Fiona Reddan answers these and other questions. Dominic Coyle meanwhile answers a reader question on whether one needs to go to probate to deal with a dead relative's small holding of shares. If you'd like to read more about the issues that affect your finances try signing up to On the Money , the weekly newsletter from our personal finance team, which will be issued every Friday to Irish Times subscribers.
The Independent
02-06-2025
- Business
- The Independent
M&S boss's pay soared by 39% ahead of cyber attack
M&S CEO Stuart Machin's pay package soared 39 per cent to £7.1 million, driven by performance-linked bonuses, before a major cyber attack disrupted the retailer. Machin's pay for the year to March included £4.6 million in long-term performance bonuses (inaccessible for two years), a £1.6 million bonus tied to M&S's performance, and £894,000 in fixed pay and pension benefits. The pay increase followed a turnaround strategy that boosted clothing and home sales, with shares rising to a nearly nine-year high in April. A cyber attack after Easter halted online orders and compromised customer data, costing the firm an estimated £300 million and causing significant disruption. An M&S spokeswoman said that the CEO's pay was performance-based and reflected the company's growth under Machin's leadership.
