Fyffes executives to split €3m bonus in acquisition
The executives will also be entitled to a maximum €1.114 million next year under a short-term incentive plan, if they stay with the company throughout 2017, and half of a €1.5 million one-off bonus that has been earmarked for certain staff on completion of the deal.
The circular relating to the deal said that shareholders are being called to an extraordinary general meeting in Dublin to vote on the deal. In response to the takover and the bonus, the current CEO of fyffes, Mr McCann had this to say:
“Whilst the Fyffes board believes that Fyffes is in a strong position in its business development and continues to believe in the stand-alone prospects of the company, the acquisition represents an attractive premium in cash and crystallises the substantial long-term value potential of Fyffes today.”
source: irishtimes.com
