Top execs remuneration details released
(21 August 2012 – Australia) Annual accounts released by Commonwealth Bank of Australia (CBA) showed former chief executive Ralph Norris received a total package of A$9.61 million in his final five months at the bank.
The payments represent a combination of short-term bonus payments and long-term share-based awards that are yet to vest for the former chief executive.
Norris retired from the bank in November last year and still has long-term payments owing, which are scheduled to vest over next two years based on the bank's performance on customer satisfaction rankings.
CBA’s new chief executive Ian Narev was paid A$5.68 million for his first seven months in the role, more than twice his previous year’s pay of A$2.68 million as head of the banks business banking arm.
Other big payments included CBA's former retail banking boss Ross McEwan who was paid A$5.34 million last financial year, up from A$3.62 million.
The total remuneration for CBA's top 12 executives last financial year, including Norris was A$51.7 million.
CBA last week reported a 4 percent increase annual cash profit to A$7.1 billion.
Norris retired from the bank in November last year and still has long-term payments owing, which are scheduled to vest over next two years based on the bank's performance on customer satisfaction rankings.
CBA’s new chief executive Ian Narev was paid A$5.68 million for his first seven months in the role, more than twice his previous year’s pay of A$2.68 million as head of the banks business banking arm.
Other big payments included CBA's former retail banking boss Ross McEwan who was paid A$5.34 million last financial year, up from A$3.62 million.
The total remuneration for CBA's top 12 executives last financial year, including Norris was A$51.7 million.
CBA last week reported a 4 percent increase annual cash profit to A$7.1 billion.
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