Kerry Group - AGM 02 May 2019
Item 6: Approve the Remuneration Report
The structure is generally acceptable, though accelerated vesting is possible. There are concerns over whether the bonus targets are sufficiently challenging. Potential incentive pay does not exceed ECGS guidelines and the quantum for the year is not excessive. However, given the recruitment award paid to the CFO, we recommend shareholders oppose.
Kerry Group is an international food corporation. Co. is engaged in ingredients and flavor technologies serving the food, beverage and pharmaceutical industries and is also a consumer foods processor and supplier in selected European Union (EU) markets. Co. has two operating segments: Ingredients & Flavors, and Consumer Foods. The Ingredients & Flavors operating segment is engaged in manufactures and distributes application specific ingredients and flavors spanning a number of technology platforms; and Consumer Foods segment is engaged in manufactures and supplies added value brands and customer branded foods primarily to the Irish and U.K. markets.
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