Freeze on fixed pay for one in three execs

Original article by Patrick Durkin
The Australian Financial Review – Page: 9 : 19-Jul-19

Just six CEOs from Australia’s top 25 companies did not get their fixed pay frozen in 2018, according to a report from PwC, while over a third of the top 100 CEOs had their fixed pay frozen. Seventy-seven per cent of CEOs of financial services companies had their fixed pay frozen, which was not surprising given the findings of the banking royal commission. The freeze at the top of company ranks is expected to extend further down, with a recent survey showing that over 37 per cent of CEOs are likely to either keep wages steady or adopt pay rises of between zero and two per cent.

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PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, CSL LIMITED – ASX CSL, JAMES HARDIE INDUSTRIES PLC – ASX JHX, RIO TINTO LIMITED – ASX RIO, GOODMAN GROUP – ASX GMG, TREASURY WINE ESTATES LIMITED – ASX TWE, WOODSIDE PETROLEUM LIMITED – ASX WPL, WESTPAC BANKING CORPORATION – ASX WBC, WOOLWORTHS GROUP LIMITED – ASX WOW, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP

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