Tuesday June 2, 2020

Coveney’s Greencore pension is cut after investor pressure

Shareholder revolt in January sees chief executive’s pension contribution cut from 35 per cent to 15 per cent

Ian Guider

Markets Editor

29th March, 2020
Greencore Chief executive Patrick Coveney. Picture: Fergal Phillips

Greencore has bowed to investor pressure and agreed to reduce the €315,000 pension payments made to its chief executive Patrick Coveney.

The food company said late on Friday that Coveney‘s pension contribution would fall from the current high level of 35 per cent of his salary to 15 per cent over the next four years.

Almost one-third of shareholders voted against the company’s remuneration report at its annual general meeting in January in an investor...

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