Owen Killian, the chief executive of Aryzta, received total compensation of almost €7 million in the food group’s 2011 financial year, it has revealed in its annual report.

Mr Killian’s compensation package, including base salary, pension contributions, benefit in kind, bonuses and long-term incentives, was 8,568,000 Swiss francs (€6.93 million). His base salary was 1.2 million Swiss francs, the same as in 2010, but Mr Killian was awarded a long-term incentive of 6.1 million Swiss francs.

Aryzta formed in 2008 after Swiss bakery group Hiestand and Irish company IAWS merged.