CHIEF EXECUTIVE OFFICERS – SALARIES

ANZ’s Smith is $10.8m a year man

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Original article by James Eyers
The Australian Financial Review – Page: 19 : 10-Nov-15

The ANZ Bank’s 2015 annual report shows that CEO Mike Smith was paid a cash salary of $A3.3m in 2014-15, while bonuses and an incentives scheme lifted his total remuneration to $A10.8m. In contrast, Commonwealth Bank CEO Ian Narev was paid $A8.32m in total for 2014-15. ANZ CFO Shayne Elliott will succeed Smith at the beginning of 2016, and he is expected to be paid around $A6.5m in total in his first year as CEO.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Bank bosses set for big pay days

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Original article by Vesna Poljak
The Australian Financial Review – Page: 15 & 20 : 10-Feb-15

The personal wealth of the CEOs of Australia’s four major banks has been boosted by the strong gains in the banks’ share prices. Commonwealth Bank CEO Ian Narev now holds some $A30m worth of shares in the bank, while the shares and options of ANZ Bank CEO Mike Smith are worth around $A61m based on the bank’s current share price. Wilson Asset Management’s Geoff Wilson says shareholders usually do not object to the high remuneration of CEOs provided investors also benefit from increased wealth

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WILSON ASSET MANAGEMENT, STANDARD AND POOR’S ASX 200 BANKS INDEX, RESERVE BANK OF AUSTRALIA

Nine chief’s pay soars to $19.6 million

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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

Harvey unfazed by ‘first strike’

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Original article by Eli Greenblat
The Australian – Page: 23 : 26-Nov-14

The remuneration report of retailing group Harvey Norman at its 25 November 2014 AGM was rejected by 282.5 million stockholder votes and approved by just 90 million. The resulting "first strike" under Australian executive pay laws has been labelled irrelevant by chair Gerry Harvey, who also owns 30% of the business and cannot vote that bloc. The salary increase of over 40% for CEO Katie Page had triggered a recommendation for a "no" vote by proxy advisory firm Ownership Matters. Meanwhile Harvey Norman will source $A120.7m in fresh capital from existing investors at $A2.50 a share

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, OWNERSHIP MATTERS PTY LTD

Medibank sale to triple George Savvides’s pay with big bonuses

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Original article by Patrick Durkin
The Australian Financial Review – Page: 6 : 21-Oct-14

Medibank Private MD George Savvides will receive a huge pay rise when the company floats on the Australian stock exchange on 25 November 2014. His remuneration will triple from $A1.2 million to $A3.99 million. Savvides’s contribution to the IPO will deliver a bonus of $A750,000 for him, which some analysts believe is excessive

CORPORATES
MEDIBANK PRIVATE LIMITED, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED, OWNERSHIP MATTERS PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, AURIZON HOLDINGS LIMITED – ASX AZJ, NIB HOLDINGS LIMITED – ASX NHF, RAMSAY HEALTH CARE LIMITED – ASX RHC, SIGMA PHARMACEUTICALS LIMITED – ASX SIP

Borghetti beats Joyce on pay

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Original article by Steve Creedy
The Australian – Page: 23 : 1-Oct-14

Figures on the remuneration of leading executives at airline Virgin Australia show that CEO John Borghetti was paid a base salary of $A1.67m in 2013-14. This is less than the $A2.05m for Alan Joyce, his counterpart at main rival Qantas Airways. However including incentive awards, Borghetti’s overall package increased 4% year-on-year to reach $A2.78m. The respective underlying losses before tax of Qantas and Virgin for 2013-14 were $A646m and $A212m

CORPORATES
VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, QANTAS AIRWAYS LIMITED – ASX QAN, VELOCITY FREQUENT FLYER PTY LTD

Austerity drive drops Mackenzie to $9m

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Original article by Barry FitzGerald
The Australian – Page: 20 : 26-Sep-14

BHP Billiton’s 2014 annual report reveals that CEO Andrew Mackenzie received total remuneration of $US7.98m ($A9.06m) in 2013-14. This compares with the $US15.99m paid to his predecessor, Marius Kloppers, in 2012-13. The resources group has also advised that executives will receive no increase in their base salaries in 2014-15, while the annual report does not outline the likely effect that spinning off non-core assets will have on its executives’ salaries

CORPORATES
BHP BILLITON LIMITED – ASX BHP

Top 100 company CEOs now scraping by on $4.8m a year

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Original article by Andrew White
The Australian – Page: 17 : 18-Sep-14

The Australian Council of Superannuation Investors has released data showing that the CEOs of Australia’s top 100 companies received an average salary of $A4.84m in 2013. The remuneration of CEOs has fallen to its lowest level since 2003, although it remains 63 times average earnings. The survey, which was carried out by Ownership Matters, also shows that termination payouts for CEOs averaged $A1.83m in 2013, compared with $A3.8m in 2008

CORPORATES
AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, OWNERSHIP MATTERS PTY LTD, AMP CAPITAL INVESTORS LIMITED, AMP LIMITED – ASX AMP, CSL LIMITED – ASX CSL, WESTFIELD CORPORATION – ASX WFD, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ