Nine boss David Gyngell is poised to become the highest-paid media executive in Australia, with a package that will see him earning much more than his peers.
Here’s what he said to The Australian:
“If I get that money — and I’m not saying it’s not a lot of money — I think everyone else will be doing pretty well.”
Gnygell, who led the business through a $3.4 billion recapitalisation last year, thinks that with his own skin in the game he will be well placed to serve his shareholders’ interests.
He will, according to the prospectus lodged yesterday, be on a $2 million salary, with $4.5 million worth of performance rights and $10 million worth of shares.
He will also get a $2.5 million cash bonus when the company goes public.
“It’s up to others to say what I’m worth but it is what it it is.”
There’s more here.