Newcrest Mining CEO Greg Robinson will be paid a total of $2.7 million in the 2013 financial year, less than three-quarters of the $3.7 million he took home last year.
Newcrest today announced that Robinson would receive no short-term bonus in this year. His contract stipulates a maximum short-term bonus of $2.4 million.
The gold miner’s finance director Gerard Bond and other executive managers will also receive short-term bonuses of 8% of their maximum award or less.
None of the executives, including Robinson, will get a pay rise next month.
Newcrest last month posted a net loss of $5.78 billion – its largest in decades. Shares are trading at $13.19 this morning, having lost about half their value in the past year.
Business Insider Emails & Alerts
Site highlights each day to your inbox.