The corrugated giant’s annual report, which was sent to shareholders earlier this week, shows that McGann’s pay packet totalled €2.488 million in 2012, slightly down from the €2.541 million he earned the previous year.

His basic salary was €1.262 million and he made a bonus of €567,000. The company paid €625,000 into his pension fund and he received benefits of €34,000.

The company’s chief operating officer Anthony Smurfit’s 2012 remuneration was €1.54m compared to €1.58m in 2011. Chief financial officer Ian Curley’s 2012 remuneration fell to €1.35m compared to €1.40m.