ASX100 CEOs already paid more than the average annual salary

Original article by Killian Plastow
The New Daily – Page: Online : 14-Jan-20

The average CEO of an S&P/ASX 100 company has probably earned more since the start of 2020 than the average worker will earn for the whole year, based on Australian Council of Superannuation Investors figures. Qantas CEO Alan Joyce, Australia’s top-earning CEO in 2018, received as much as 281 workers earning the average wage. Bonuses, which are viewed as ‘at-risk’ pay, account for much of the large amounts that CEOs receive. However, ACSI CEO Louise Davidson notes that over 50 per cent of ASX 100 CEOs received over 70 per cent of their bonuses in the 2018 financial year, suggesting to her that so-called ‘at risk’ pay is "not very risky at all".

CORPORATES
STANDARD AND POOR’S ASX 100 INDEX, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, QANTAS AIRWAYS LIMITED – ASX QAN

Nine chief’s pay soars to $19.6 million

Original article by James Thomson, Edmund Tadros
The Australian Financial Review – Page: 13 : 10-Dec-14

The latest executive salary survey by "The Australian Financial Review" shows that Nine Entertainment Company CEO David Gyngell was Australia’s highest-paid corporate executive in 2014. His total remuneration of $A19.6m included a $A2.5m cash bonus associated with the group’s IPO. Arowana International CEO Kevin Chin was paid $A13.3m in total, followed by News Corporation CEO Robert Thomson with total remuneration of $A13.2m

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AROWANA INTERNATIONAL LIMITED – ASX AWN, NEWS CORPORATION – ASX NWS, WESFARMERS LIMITED – ASX WES, WESTFIELD CORPORATION – ASX WFD, GUERDON ASSOCIATES PTY LTD, OAKTREE CAPITAL MANAGEMENT LLC, APOLLO GLOBAL MANAGEMENT LLC

BHP’s new CEO Mike Henry vows to accelerate productivity push

Original article by Nick Toscano, Colin Kruger
Brisbane Times – Page: Online : 14-Nov-19

BHP CEO Andrew Mackenzie will step down at the end of 2019 after more than six years in the role. He will be succeeded by mining industry veteran Mike Henry, who will receive a base salary of $US1.7m ($2.5m). Henry, who has been the head of BHP’s Australian minerals division since 2016, says he will spend the next 45 days holding meetings with BHP staff across its global operations. Henry was regarded as a leading internal candidate to succeed Mackenzie.

CORPORATES
BHP GROUP LIMITED – ASX BHP

RBA boss blasts CEO salaries after Qantas boss Alan Joyce’s wage revealed

Original article by James Hall
News.com.au – Page: Online : 26-Sep-19

Reserve Bank of Australia governor Philip Lowe has criticised the large salaries of the nation’s top business executives at a time of low wages growth. Lowe argues that CEOs should not be rewarded with performance-based incentives merely for doing their job, while he says ordinary Australians should receive a wage increase of at least three per cent. His comments follow revelations that Qantas CEO Alan Joyce received total remuneration of almost $24m in fiscal 2018. Lowe himself receives a base salary of $903,000.

CORPORATES
RESERVE BANK OF AUSTRALIA, QANTAS AIRWAYS LIMITED – ASX QAN

The $10m men reap benefits of high returns

Original article by David Marin-Guzman
The Australian Financial Review – Page: 3 : 17-Sep-19

Australian Council of Superannuation Investors research reveals Australia’s 10 highest paid CEOs earned over $10 million in realised pay in fiscal 2018, with realised pay including the actual value of vested equity. Only one eligible ASX 100 CEO did not get their bonus in fiscal 2018, compared to six in fiscal 2017. ACSI CEO Louise Davidson says corporate Australia appears to view bonuses as "fixed pay under another name", rather than as a reward for "stretch performance"

CORPORATES
AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP

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.

CORPORATES
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

Jacques to get modest pay rise of 2.5pc

Original article by Brad Thompson
The Australian Financial Review – Page: 19 : 1-Mar-19

Rio Tinto’s annual report shows that CEO Jean-Sebastien Jacques received total remuneration of Stg4.29m in 2018, compared with Stg3.82m in 2017. His base salary will increase by 2.5 per cent to Stg1.138m from the start of March. Meanwhile, Rio Tinto’s remuneration committee has advised that the payment of bonuses to former CEO Sam Walsh will again be deferred pending the outcome of an investigation into the Simandau scandal.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP GROUP LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG

NAB CEO forfeits $22m as push for changing of the guard speeds up

Original article by Joyce Moullakis
The Australian – Page: 17 & 22 : 21-Feb-19

National Australia Bank has revealed that former CEO Andrew Thorburn will receive a ‘golden handshake’ of $1m. However, he will forgo about $22m in performance rights following his resignation. Thorburn was paid about $4m in 2018, but acting CEO Phil Chronican will be paid just $150,000 a month while he is in the role. Meanwhile, NAB chairman Ken Henry will have no role in selecting a permanent successor to Thorburn, while Angus Gluskie of White Funds Management has urged NAB to choose a new CEO within six months.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WHITE FUNDS MANAGEMENT PTY LTD, CLSA AUSTRALIA PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED

Golden handshake as exiting Goyder pockets $12m

Original article by Cliona O’Dowd
The Australian – Page: 28 : 21-Sep-17

The annual report of Perth-based conglomerate Wesfarmers shows that outgoing CEO Richard Goyder will receive total remuneration of $A12.1m in 2017, compared with just $A5.5m in 2016. However, Goyder’s short-term incentive bonus was slashed in 2016 due to the underperformance of Target and the Curragh coal mine. Wesfarmers chairman Michael Chaney has praised Goyder’s contribution during his 12-year tenure. He will be succeeded by Rob Scott in November.

CORPORATES
WESFARMERS LIMITED – ASX WES, TARGET AUSTRALIA PTY LTD, COLES SUPERMARKETS AUSTRALIA PTY LTD, BUNNINGS GROUP LIMITED, CURRAGH QUEENSLAND MINING LIMITED, OFFICEWORKS SUPERSTORES PTY LTD, KMART AUSTRALIA LIMITED, WOOLWORTHS LIMITED – ASX WOW

BHP pledges improvements as chief’s pay rebounds 20pc

Original article by Tess Ingram
The Australian Financial Review – Page: 18 : 21-Sep-17

BHP Billiton CEO Andrew Mackenzie received a base salary of $US1.7m and total remuneration of $US7.1m ($A8.8m) in 2016-17, compared with $US5.9m previously. The resources group’s annual report also shows that recently-appointed chairman Ken MacKenzie will be paid $US880,000 in 2017-18, which is around eight per cent lower than predecessor Jac Nasser received in 2016-17. Meanwhile, MacKenzie has emphasised BHP’s commitment to shareholder engagement and capital management.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, AMCOR LIMITED – ASX AMC, AUSTRALIAN FEDERAL POLICE