THE five executive directors of Kerry Group, managing director, Mr Denis Brosnan deputy managing directors. Mr Hugh Eriel, Mr Denis Cregan, Mr Jerry Houlihan and Mr Michael Griffin; shared remuneration of almost £1.5 million last year, compared to £1.23 million the previous year, an increase of over 21 per cent.

The £1.49 million represents an average of almost £300,000 for each director although it is likely that Mr Brosnan, as managing director of one of the biggest companies in the country, would have received much more than the average.

Basic remuneration, which includes fees, salaries and pension contributions, increased from £832,000 to £927,000 while performance related payments increased from £361,000 to £529,000.

Meanwhile, at building materials group Kingspan, total payments increased from £412,000 to £689,000. This represents an increase from an average of £82,400 per director in 1996 to almost £120,000 last year. There were five directors at the end of 1995 and seven at the end of 1996, although one of these directors only joined the board at the end of 1996 and another was on the board for nine months from March, 1996.

The relatively modest salaries and remuneration do not include dividends received and two of the directors, Mr Eugene Murtagh and Mr Brendan Murtagh, received dividends for the year of over £667,000.

The annual report also shows that the Murtaghs and two other directors, Mr Eoin McCarthy and Mr Dermot Mulvihill, received £950,000 as part of the arrangement for the buyout of Thermal Insulation Distributors. The four directors are to receive a total of £4.3 million for Thermal Insulation Distributors, which held various royalties.