The former group managing director of Glanbia, Siobhan Talbot, who departed the company earlier this year, is to receive a payment of €1.14 million from Glanbia under non-compete covenants the company has in place.
She will receive the money in 12 equal monthly instalments.
The information is contained in Glanbia's Annual report and Financial Statements for 2023.
Her replacement as CEO, Hugh Maguire, will receive a base salary of €1 million and benefits.
The report also states that group Chief Financial Officer, Mark Garvey, is to receive a Special Retention Award to stay at Glanbia for another two years and provide continuity after Ms Talbot's departure.
The award will be in the form of shares of which he will receive 42,545 at the December value of €15.47 per share.
This amounts to one years salary for the CFO.
The report states that, "the Board considers it is in the best interests of the business and shareholders, " and Mr Garvey is highly regarded by external markets, and has Irish and US citizenship and could easily transition to a US based role.
