The group managing director of food group Glanbia and all other directors and senior managers volunteered to take a cut in their salaries last year, according to its annual report.
The report also shows that no bonuses were paid to directors last year. Managing director John Moloney was paid a total of €587,000, around half of what he received in 2008.
Kevin Toland received €472,000 and Siobhán Talbot, who became an executive director in July received €164,000.
Glanbia's profits fell last year, hit by volatility on world dairy markets. In March, Glanbia Co-op said it was interested in buying the group's Irish businesses.
