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Shares fury at pounds 7m-a-yr chief Smurfit.



Byline: PAT FLANAGAN John Patrick "Pat" Flanagan (born 1891 in Preston, Lancashire) was an English footballer.

An inside forward, Flanagan played youth football for Stourbridge before joining Norwich City in 1908, before moving to Fulham in 1909.
 

TYCOON Michael Smurfit Sir Michael Smurfit, KBE, LL.D (honorary), (born 1936 in St Helens, Lancashire, England), is a businessman holding dual Irish and British citizenship.

Smurfit was educated at Clongowes Wood College and joined his father's company Jefferson Smurfit & Sons Ltd in 1955.
, who rakes in almost three times more a week than Irish soccer star Roy Keane Roy Maurice Keane (born 10 August, 1971 in Mayfield, Cork City, Ireland) is an Irish former professional footballer and the current manager of English Premier League club Sunderland. , could be facing a pay cut.

Angry shareholders are to demand he has his wages of pounds 130,000 a week docked after the value of shares in his company bombed.

Senator Shane Ross Shane Peter Nathaniel Ross (born 11 July 1949) is an Irish politician and an independent member of Seanad Eireann. He is one of three Senators representing the graduates of Trinity College Dublin (TCD) in the upper house of the Republic of Ireland's parliament. , a stockbroker, said: "The directors are milking the company for millions while shareholders have been losing money.

"This is a bridge too far. This is the unacceptable face of capitalism."

He added: "The shareholders in Smurfit have had a miserable time for the last 10 years."

For the first time fund managers are breaking ranks to stand alongside small shareholders.

Irish Life Investment Managers intend to register a protest at today's AGM AGM annual general meeting

AGM n abbr (= annual general meeting) → AG f

AGM n abbr (= annual general meeting) → JHV f 
.

Their counterparts at the Allied Irish Bank are to vote against Mr Smurfit's wage bill, which comes to pounds 7million when pension and other perks are taken into account.

The Monaghan-based tycoon's huge salary came to light in the Jefferson Smurfit Group annual report which was published yesterday.

It is the first year the report has contained a full breakdown on what the firm's bosses are paid.

CAPTION(S):

UNDER FIRE: Smurfit
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Publication:The Mirror (London, England)
Date:May 4, 2001
Words:199
Previous Article:STONE BENEFIT ROW; Killer's protest as dole is cancelled.
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