DIRECTORS OF CORPORATIONS – SALARIES

MinRes chairman in line for $11m windfall

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Original article by Mark Wembridge
The Australian Financial Review – Page: 14 & 19 : 24-Sep-25

The annual salary of Mineral Resources’ non-executive chairman Malcolm Bundey comprises $750,000 in cash and shares. However, Bundey will also be entitled to 780,000 stock options, subject to approval by shareholders at the iron ore and lithium miner’s AGM in November. His stock options will vest between $30 and $40 a share, and they have an exercise price of $25.40. Bundey’s options will be worth about $11.39m if the company’s shares remain above $40 at certain points over the next three years. Mineral Resources’ shares are currently trading at around $40, having reached a low of $14 in April.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN

C-suite executives’ pay increases rise past inflation

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 14 : 14-Jun-23

A new report from the Governance Institute shows that 42 per cent of directors at ASX-listed companies and 71 per cent of senior executives received a pay rise in 2022. The salaries of CEOs rose by an average of 15 per cent, while the salaries of managing directors rose by an average of 14 per cent. This compares with overall wage growth of just 3.4 per cent in 2022, according to Wage Price Index data; the inflation rate in turn was 7.8 per cent at the end of 2022. Governance Institute CEO Megan Motto says the sharp rise in executive remuneration follows several years of relatively small rises in fixed pay.

CORPORATES
GOVERNANCE INSTITUTE OF AUSTRALIA LIMITED

Directors take pay cut as ABC jobs axed

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Original article by Lilly Vitorovich
The Australian – Page: 7 : 24-Jun-20

The ABC will release its five-year plan on 24 June, which will include up to 250 redundancies across its operations. Meanwhile, an ABC spokesman has advised that the Remuneration Tribunal has approved the public broadcaster’s proposal to temporarily reduce the salaries of its nine-member board by 10 per cent during the second half of 2020. The ABC’s five-year plan was originally slated to be released in March, but it was delayed due to the coronavirus pandemic.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. REMUNERATION TRIBUNAL

BHP pledges improvements as chief’s pay rebounds 20pc

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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

Jervois Mining and the great scandium battle

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Original article by Trevor Skykes
The Australian Financial Review – Page: 27 : 4-Nov-16

Jervois Mining’s three directors were paid $A580,000 in salaries and fees in 2015-16 which is a generous sum, considering that the board met only seven times. The directors’ remuneration contrasts with Jervois Mining’s negative cash flow and a pre-tax loss of $A941,000. Jervois Mining’s scandium deposit made the company attractive to Scandium Developments International which urges Jervois Mining’s shareholders to support its attempt to remove the board of the mining company.

CORPORATES
JERVOIS MINING LIMITED – ASX JRV, SCANDIUM DEVELOPMENTS INTERNATIONAL, AUZEX RESOURCES LIMITED, NORTON GOLD FIELDS LIMITED, BLOOM ENERGY, EXPLAURUM LIMITED – ASX EXU, PLATYPUS MINERALS LIMITED – ASX PLP, AUSTRALIAN MINES LIMITED – ASX AUZ, AUSTRALIA. TAKEOVERS PANEL

Top women closing gap on pay as earnings hit $580k

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Original article by Adam Creighton
The Australian – Page: 2 : 1-Mar-16

Data from the Australian Taxation Office shows that the three per cent of taxpayers in the highest marginal tax bracket accounted for nearly 30 per cent of the total income tax paid in fiscal 2014. Meanwhile, the average salary of male CEOs and directors rose by 10 per cent to $A667,000 during the financial year, while the average salary of their female counterparts increased by 20 per cent to $A580,000. Medical specialists and financial industry professionals were also among those with the highest incomes.

CORPORATES
AUSTRALIAN TAXATION OFFICE