Belfast Telegraph

Scrutiny for pay rise at Kingspan

By Gavin McLoughlin

Leading proxy advisor ISS has warned that pay rises for Kingspan chief executive Gene Murtagh should only be given in exceptional circumstances.

In a report ahead of the insulation panels company's AGM last this month, ISS acknowleged that the firm has performed well but said that a pay rise for Mr Murtagh of 10% in both 2016 and 2017 was 'a cause for concern'.

Pay and bonuses at the company has already been raised as a concern in recent years.

ISS said it believed "qualified support for the remuneration report is considered warranted. This will be kept under review and further increases of this nature will not be looked at favourably unless exceptional circumstances exist."

However, the report said "a strong mitigating factor is that apart from the last couple of years, the chief executive's salary had been frozen since 2008. Further, his new salary is not considered excessive."

Belfast Telegraph

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