John Dunsmore, the new chief executive of C&C Group, and two fellow directors of the Magners Irish Cider maker have waived a combined bonus worth up to €1.2million (£1.07million) and put the money into a bonus pool for the company’s workers.

Mr Dunsmore, chief executive of Scottish & Newcastle (S&N) until its takeover by Heineken last year, stands to make significant sums if the embattled cidermaker meets certain performance and share-price targets over the next five years.

He and two former S&N colleagues – Stephen Glancey, C&C’s chief operating officer, and Kenny Neison, strategy director – have invested a total of €1.5million of their own money in a share-based incentive scheme that will pay out several times that if the share price reaches €2.50.

Tags | cider, ireland, Production, wholesale