Hamish Douglass' new pay revisited
I outlined a change in approach to Hamish Douglass' fixed remuneration in this note (VIEW LINK) from November 2015. The release of Magellan Financial Group's 2016 remuneration report today indicates his fixed remuneration for FY2017 will be $2,748,023 inclusive of superannuation, which is more than double his FY2016 fixed remuneration of $1.25 million. The Board is quite correct is saying it appreciates his fixed remuneration 'could rise materially in absolute terms', it is not quite correct in saying this is over the longer term. Given his STI maximum opportunity will remain unchanged 100% of fixed remuneration, any uplift in fixed remuneration flows onto the total remuneration opportunity.
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With a background in human resources, executive search and corporate law, Kym Sheehan brings unique perspectives on corporate governance and meeting resolutions to her work for The Executive Remuneration Reporter. The Executive Remuneration...
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