NAB announces a new pay framework designed to hold its CEO and executives more accountable. Total CEO pay has been cut 11%. The aggregate 2018 senior executive total reward for being on target has been reduced by 15%. NAB has cut bonuses and pay under a new executive remuneration framework […]
CSL isn’t increasing the base pay or short term incentive of its CEO this year. Instead, Paul Perreault is getting a 13% increase in his long term incentive target. The blood products group had a first strike against its remuneration report two years ago. Paul Perreault, the chief executive of […]
The push back against big bonuses in corporate Australia will face a major test this week at the annual general meeting of power company AGL, an ASX50 company. The electricity provider is facing its first AGM after recording a first strike — a vote of 25% or more of shareholders […]
Shareholder revolt against expanding pay packages for CEOs is starting to influence boards at blue chip companies. Wesfarmers, the owner of Coles, Officeworks, Kmart, Target and Bunnings, today announced that Rob Scott will be paid less than managing director Richard Goyder when he takes over as head of Australia’s biggest […]
The senior executive team at Macquarie Bank, which today posted another record profit of $2.21 billion, shared $124 million in pay in 2016. The company’s annual report released today shows the top earner as CEO Nicholas Moore with total remuneration of $18.71 million, a rise of 3% or $554,544 on […]
LONDON -- The CEO of High Street and catalogue...
The push to stop the introduction of so-called soft targets for CEOs and their senior executives may have the unintended consequence of creating a culture where it’s okay to do anything to get that bonus. Shareholders have been pushing back against soft targets being linked to senior executive bonuses. The […]
Westpac today gave details on how Australia’s oldest bank is cutting the pay of its senior executives. In his speech to shareholders at the AGM in Adelaide, chairman Lindsay Maxsted acknowledged concerns in the community about bonuses and payments to executives. A proposal for so-called soft targets to be added […]
The Commonwealth Bank has bowed to concern from some shareholders about adding more so-called “soft targets” to CEO Ian Narev’s bonus targets. Proposed changes to the way incentives are calculated were withdrawn just hours before they were due to be voted on at the bank’s annual meeting. The changes would […]
Some of BP's largest...
2015 was a tough year to be at the helm of...
To cut remuneration pool from $1.8 million.