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Displaying items by tag: Chief executive pay

The pay package of Irish Continental Group’s chief executive, Eamonn Rothwell has jumped almost 250 per cent to €2.9 million last year, as the parent company of Irish Ferries, operating Ireland-UK routes and between Ireland and France, returned to profit after the pandemic.

In addition to Irish Ferries running its fledgling UK-France service on the Dover-Calais route that was launched in June, 2021 in the wake of Brexit, which has expanded into a three-ship service (see related story).

Last year, Mr Rothwell also collected €4.28 million of dividends on his 17.7 per cent stake as the Dublin based company, had handed out €24.2 million of such payments to shareholders, including an interim dividend for 2022.

According to ICG’s annual report, released on Tuesday, showed Mr Rothwell received a 20 per cent rise in basic pay last year – to €700,000. In addition the Chief Executive secured a €1.38 million bonus by way of restricted shares, which have a five-year disposal restriction.

As for share options, they were awarded under a performance share plan that was valued at €814,000, while other benefits amounted to €35,000.

The company which has its head office located in Dublin Port, earlier this month reported an operating profit of €66.7 million for 2022, a year in which revenues soared almost 75 per cent compared to pandemic-stricken 2021.

As The Irish Times (which has more) reports on the company that made losses at both operating and net earnings level in 2020 and 2021.

Whereas revenues at the maritime transport group had increased by €250.4 million to last year’s €584.9 million.

To consult the annual report in full, click this link.

Published in Irish Ferries

The GP14 is a popular sailing dinghy, with well over 14,000 boats built.

The class is active in the UK, Ireland, Australia, South Africa, Sri Lanka and parts of north-eastern USA, and the GP14 can be used for both racing and cruising. 

Designed by Jack Holt in 1949, with the assistance of the Dovey Yacht Club in Aberdyfi. The idea behind the design was to build a General Purpose (GP) 14-foot dinghy which could be sailed or rowed, capable of also being powered effectively by a small outboard motor, able to be towed behind a small family car and able to be launched and recovered reasonably easily, and stable enough to be able to lie to moorings or anchor when required. Racing soon followed, initially with some degree of opposition from Yachting World, who had commissioned the design, and the boat soon turned out to be an outstanding racing design also.

The boat was initially designed with a main and small jib as a comfortable family dinghy. In a design philosophy that is both practical and highly redolent of social attitudes of the day the intention was that she should accommodate a family comprising parents plus two children, and specifically that the jib should be modest enough for "Mum" or older children to handle, while she should perform well enough to give "Dad" some excitement when not taking the family out. While this rig is still available, and can be useful when using the boat to teach sailing, or for family sailing, and has some popularity for cruising, the boat is more commonly seen with the full modern rig of a mainsail, genoa and spinnaker. Australian boats also routinely use trapezes.

GP14 Ireland Event Dates 2023

  • O'Tiarnaigh (Apr 22-23) Blessington Sailing Club
  • Ulsters (May 20-21) East Antrim Boat Club
  • Munsters (Jun 17-18) Tralee Bay Sailing Club
  • Leinsters (Jul 7-9) Dun Laoghaire Regatta
  • SOYC (Aug 19-20) Rush Sailing Club
  • Nationals (Sep 1-3) Sutton Dinghy Club
  • Hot Toddy (Sep 30-Oct 1) Royal North of Ireland Yacht Club

 

At A Glance – GP14 Dinghy Specifications

Crew 2
Draft 1,200 mm (47 in)
Hull weight 132.9 kg
LOA 4.27 m (14 ft)
Beam 1.54 m
Spinnaker area 8.4 m2
Upwind sail area 12.85 m2

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