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INM CEO Vincent Crowley received €627,000 in 2012

INM's report says that Vincent Crowley's salary did not increase when he became CEO
INM's report says that Vincent Crowley's salary did not increase when he became CEO

Independent News and Media chief executive Vincent Crowley received total pay and benefits of €627,000 last year.

The company's annual report shows Mr Crowley was paid a basic salary of €422,000 for the year.

He was appointed chief executive following the departure of Gavin O'Reilly from the company in April.

The annual report says Mr Crowley's salary has not increased since he became chief executive. He was previously the company's chief operating officer.

Total directors' pay at INM rose from just under €2m to €3.5m last year, despite directors taking a 5% pay cut effective from January 2012.

The pay bill rose because of the €1.9m payment to departing chief executive Gavin O'Reilly.