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Asciano’s executive remuneration 2016 report revealed that CEO John Mullen will have been paid just over $8.18m for 2016, a 72.3% increase on the previous year.
Mr Mullen had a take-home pay of $4.23m, comprising $1.96m in fixed annual remuneration (base salary, superannuation contributions and non-salary benefits); $1.5m in short-term incentives (paid in cash in the 2016 financial year); and $763,166 in short-term incentives.
He will also benefit from $5.83m of long-term rights along with $19,308 of super; $30,518 of long-service leave accrual; and $1,591,175m of termination payments.
In total, Mr Mullen will be paid just over $8.18m, which is a 72.3% increase on the year to end June 2015 figure of just over $4.74m.
Whopping pay increases for directors
CFO Burrows was paid just under $2.88m, which is a 102.4% increase on the previous year; David Irwin (director Pacific National) was paid $2.5m, up 53.8% on the 2015 figure; Murray Vitlich, director Patrick, earned $2.9m, up 197.3% on the previous year.
Nice part-time work if you can get it
Independent directors did quite well out of the trough that is Asciano.
Chairman Malcolm Broomhead pocketed $525,500. Independent directors Chris Barlow, Robert Edgar, Peter George and Shirley Int’t Veld took home $217,500 each; Geoff Kleeman earned $237,500 while Ralph Waters earned $197,500.
This article first appeared on www.lloydslistaustralia.com.au
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