Markets

NAB CEO Andrew Thorburn just took a $2 million pay cut

The NAB released its annual report, showing its CEO’s pay was $2 million less in 2018 than the previous year. Andrew Thorburn was paid $4,375,511. The big four banks have been winding back executive pay packages following revelations of misconduct in the financial services royal commission. NAB chief executive Andrew […]
NAB CEO Andrew Thorburn just took a $2 million pay cut
Markets

Telstra is preparing for a shareholder backlash against executive pay

Proxy advisers are recommending a vote against Telstra’s remuneration report. And Telstra says it’s expecting a “material” vote against the report at the AGM next week. A first strike occurs when 25% of votes go against the remuneration report. Telstra is concerned that its AGM next week will see a […]
Telstra is preparing for a shareholder backlash against executive pay
Markets

The NAB has cut executive pay and bonuses

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 […]
The NAB has cut executive pay and bonuses
Markets

The chief executive of CSL isn’t getting a pay rise this year

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 chief executive of CSL isn’t getting a pay rise this year
Markets

Richard Goyder’s replacement at Wesfarmers will be paid $3 million less

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 […]
Richard Goyder’s replacement at Wesfarmers will be paid $3 million less
Markets

Here’s how Westpac is saving on the salaries of its senior executives

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 […]
Here’s how Westpac is saving on the salaries of its senior executives