Where will the name for the new Irish Ferries Ship be derived?

[Davy Jones]

For no reason whatsoever, I found myself thinking about the naming of the new ferry over the weekend and what basis they will use for doing so.

So in true style of "Ask the Audience", what does everybody prefer? Poll above!

(Please note: "Boaty McBoatface" is NOT an option!)

[PaddyL]

Maybe it will be the Oliver Twist

https://www.irishtimes.com/business/media-and-marketing/shareholder-power-sinks-irish-continental-executive-bonus-plan-1.3058416?mode=amp

ICG shareholders scuttle big bonuses

https://www.thetimes.co.uk/edition/ireland/icg-shareholders-scuttle-big-bonuses-607hnr66r

Philip Connolly
April 23 2017, 12:01am, The Sunday Times

Ferry operator Irish Continental Group is planning to implement new measures to tighten its pay structure
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Irish Continental Group (ICG) has suspended a long-term incentive plan for executives after institutional shareholders mounted a bruising protest vote against pay levels.

The ferry and ports company deferred any awards under its 2009 share option plan for executives, pending a shareholder vote at this year's annual meeting on a replacement scheme. Chief executive Eamonn Rothwell is set to receive shares worth €1.8m under the scheme.

Almost a third of shareholders voted against the company's pay plan last year. ICG said that it has "since engaged with our major shareholders and their advisers to understand their concerns", the company's annual report reveals.

Having considered these concerns, the remuneration committee has reviewed the existing pay "framework", the report adds. Following the review, the committee has implemented several changes to the remuneration plan "to more align our framework with market norms".

ICG said that no options were granted to its executive directors or any other individuals last year.

The ferry operator reported pre-tax profits of €60.4m for the year ending December 2016, up from €54.1m in 2015, despite navigating Brexit "headwinds". Revenues for the year rose by 1.5% to €325m, and earnings before interest, taxes and other items were more than 10% higher, at €83.5m.

ICG is headed by former NCB Group stockbroker Eamonn Rothwell, who holds a 15.4% stake in the company. He has netted €28m in past share sales, salaries and dividends, much of which has been invested in commercial property.

The company is planning to implement new measures to tighten its pay structure.

The changes include a "maximum opportunity level" or cap in respect of annual bonuses and the introduction of clawback provisions.

Performance-related bonus shares are to be held in trust for beneficiaries and may not be sold for a period of five years and one month from the date of grant — "aligning the value of the award with group performance over the restricted period", according to ICG.


Rothwell has netted €28m in share sales, salaries and dividends
SASKO LAZAROV/PHOTOCALL IRELAND
The new plan will see executives earn at least half of their bonus in shares, which would be subject to restriction around their sale. Executive directors will also have to hold shares to a value of three times their base salary. The directors will be allowed five years to amass the stake.

The company plans to introduce a new long-term incentive scheme, its performance share plan. It will have a "mandatory alignment period" of eight years, "which is significantly greater than the current market norm of five years", said the report.

In backing Rothwell's pay, the remuneration committee noted that, since the group's flotation in 1988, 31 shareholders had increased the value of their shareholding 97-fold, compared with an "11-fold increase on the Iseq".

Rothwell has been chief executive since the company's flotation. Over the past 10 years, the compound return to shareholders has been more than 17%.

[Steven]

If they did what they did last time and simply dropped the last owners prefix who knows!  Could be called (Flensburger) Schiffbau-Gesellschaft or (European) Investment Bank :o

Seriously though, I hope for something new myself.  To usher in a new era.

[NathanBrady]

Dey could call it Bono or "the edge"

[Steven]

Dey could call it Bono or "the edge"

Great Irish literary work? :o

[Kieran]

Dey could call it Bono or "the edge"

I hear the Naval Service have both of those reserved already  ;)

[Davy Jones]

Roddy Doyle?

[NathanBrady]

Something from Cyprus.  Could make the writing on de back confusing lol