--- a/CMakeLists.txt	
+++ a/CMakeLists.txt	
@@ -258,7 +258,7 @@ endif()
 set(VERSION "${PROJECT_VERSION}")
 set(prefix "${CMAKE_INSTALL_PREFIX}")
 set(exec_prefix "\${prefix}")
-set(libdir "\${exec_prefix}/lib")
+set(libdir "${LIB_INSTALL_DIR}")
 set(includedir "\${prefix}/include")
 set(PTHREAD_LIBS "${CMAKE_THREAD_LIBS_INIT}")
 
--- a/libical.pc.in	
+++ a/libical.pc.in	
@@ -7,5 +7,5 @@ threadslib=@PTHREAD_LIBS@
 Name: libical
 Description: An implementation of basic iCAL protocols
 Version: @VERSION@
-Libs: -L${libdir} -lical -licalss -licalvcal ${threadslib}
+Libs: -lical -licalss -licalvcal ${threadslib}
 Cflags: -I${includedir}