Companies

ICG investors advised to vote against pay report due to transparency concerns

Glass Lewis released its recommendations ahead of the annual general meeting for ICG, the parent company of Irish Ferries, next month

Eamonn Rothwell, chief execuitve of Irish Ferries received a short-term bonus of €1.39 million for 2023. Picture: Fergal Phillips

Glass Lewis has advised investors in Irish Continental Group (ICG), the owner of Irish Ferries, to vote against the company’s pay report due to what it described as a lack of transparency over targets.

In its recommendation report, the leading corporate governance adviser noted that Eamonn Rothwell, the chief executive of ICG, received €1.39 million in short-term incentives, which contributed to his €3.1 million total payout for 2023.

This bonus payout is equivalent to over ...