Afterpay co-founders, who took home a total of $ 264.2 million last year, the Australian CEO’s pay record has been broken by a new investigation into bonuses paid to top CEOs. ASX.
Anthony Eisen and Nick Molnar, the CEOs of Buy Now, pay later, each pocketed more than $ 100 million each and were the highlights of the Australian Board of Pension Investors’ annual survey (ACSI) on the CEO’s pay for fiscal year 2021., published today.
The study found that the average payment made to ASX 100 CEOs increased to $ 9.15 million in 2021, up from $ 5.85 million in 2020.
Afterpay founders Anthony Eisen and Nick Molnar took home a total of $ 264.2 million last year. (AFR / Eamon Gallagher)
Other well-paid CEOs included CSL chief Paul Perreault ($ 58.9 million), Macquarie CEO Shemara Wikramanayake ($ 14.7 million) and Woolworths chief Brad Banducci (11). , $ 8 million).
Eisen and Molnar reached the top spot after the pair exercised 1.5 million stock options that allowed them to buy those shares for just $ 1 when the actual price of Afterpay shares was close to $ 90.
In another ACSI finding, the average bonus granted to ASX100 bosses has also reached a record $ 2.31 million, breaking the 2017 record of $ 2.30 million.
Qantas CEO Alan Joyce was the only ASX100 CEO who did not receive any bonuses in either 2020 or 2021. He took home $ 1.98 million.
But for many Australian companies, multimillion-dollar bonuses for CEOs have returned when companies begin to phase out temporary pay cuts caused during the COVID-19 pandemic, according to the study.
“After their lowest year on record, they’ve returned big bonuses, but not only have they recovered, but they’ve reached new heights,” said Ed John, ACSI’s chief executive officer.
“That’s why investors, and ACSI, will be closely monitoring the earnings reporting season to see if this worrying bonus catch-up trend continues. This year’s results will be judged in a context of difficult financial markets and an uncertain economic outlook. “
CSL CEO Paul Perreault took $ 58.9 million in fiscal 2021. (Photo by Wayne Taylor / Fairfax Media) (New)
John said CEO bonuses should be paid for exceptional corporate performance.
The 10 richest people in Australia in 2022 were revealed
“Bonuses for CEOs should not be granted for normal results. Payments to senior executives should be aligned with the value created for shareholders and reflect genuinely superior performance.”