Kenmare’s Michael Carvill sees bonus pay decline as share prices sink

Company’s share price has declined 24 per cent in the past year

Michael Carvill, manging director at Kenmare Resources, is eligible for a bonus, which was $259,000 in 2023, down from $295,000 the previous year. Picture: Fergal Phillips

Michael Carvill, managing director at Kenmare Resources, saw his pay fall in 2023 as the sinking share price impacted the value of his bonus shares.

The company’s annual report showed Carvill, who will step down in the summer, is due to receive $1.6 million (€1.49 million) for 2023, down from $1.8 million the previous year. While fixed pay, which includes base salary and pension, increased almost 10 per cent to $754,000, the founder’s variable pay ...