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Nine Entertainment’s David Gyngell Aussie’s Highest Paid Boss

The head of leading Australian media group Nine Entertainment, David Gyngell, was the country’s best paid boss in 2014, raking in AU$19.6 million ($ 32.11m). Gyngell, who made international headlines
13 Dec 2014 10:10
Nine Entertainment’s David Gyngell Aussie’s Highest Paid Boss
David Gyngell

The head of leading Australian media group Nine Entertainment, David Gyngell, was the country’s best paid boss in 2014, raking in AU$19.6 million ($ 32.11m).

Gyngell, who made international headlines when he dramatically tussled with casino mogul James Packer at Sydney’s Bondi Beach in May, had a base salary of AU$2.7 million (FJ$4.43m), the Australian Financial Review said in its annual executive survey.

But he pocketed millions more in short-term and long-term incentives throughout the year, including AU$2.5 million (FJ$4.1m) for taking the company to a listing on the Australian Stock Exchange.

Coming in a distant second was Kevin Chin, the chief of little-known investment group Arowana International, who had a base pay of $30,000 (FJ$49,143)but took home an additional cash bonus of $13.3 million (FJ$21.79m) – for an IPO on the New Zealand stock exchange.

News Corporation’s Robert Thomson rounded up the top three with a package of AU$13.2 million.

While banking and mining firms are significant movers of the benchmark S&P/ASX 200 index, the highest remunerated boss among the two sectors was Nicholas Moore of investment bank Macquarie Group.

He was paid $13.1 million ($21.46m), while Westpac Bank’s Gail Kelly, one of Australia’s most powerful female chief executives before announcing her retirement from the institution last month, was ranked seventh with AU$11.0 million.

Flying the flag for the mining sector was Rio Tinto boss Sam Walsh, who came ninth for making $9.8 million, ahead of Andrew MacKenzie who, as chief of the world’s largest resources firm BHP Billiton, was paid $7.6 million.

Their remuneration pales in comparison to some global executives, including Cheniere Energy’s Charif Souki, who received $US142 million (FJ$281.64m) to become the highest-paid CEO in the United States last year, according to a New York Times and Equilar Atlas survey.

 

 




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