As outrage grows about huge payouts to departing executives, don’t forget some of the amazing records being set by executives who are still in the job. Some people like Frank Lowy and Rupert Murdoch will end up appearing on this list more than 5 times but we want to assemble the 50 largest annual pay packets over the past 10 years.
Peter Chernin: Rupert’s deputy collected $US17.86 million ($33 million) in 2001-02 but is still rumored to be hoping to replace Michael Eisner at Disney.
Peter Chernin: the lad gets paid well every year as he collected $US16 million ($30 million) in 2000-01 if you exclude the value ascribed to his options which subsequently dissipated.
Rupert Murdoch: despite owning $8 billion worth of News Corp stock, Rupert doesn’t follow the Packer lead and eschew a salary, pocketing a handy $US9.2 million ($17 million) in 2001-02
Frank Lowy: the Westfield co-founder and executive chairman has Australia’s most lucrative profit-sharing deal which in 2001-02 delivered him $11.8 million, thanks to a $10.94 million “annual performance fee”, which equates to about 7 per cent of net profit.
Frank Lowy: same as above accept the profit was a little lower in 2000-01 so his profit share deal took the annual package to $10 million.
Michael Chaney: the only superstar CEO left, the Wesfarmers boss leapt into the overpaid category this year when it was revealed he collected $7.94 million, including $6.71 million on a 10-year bonus.
Jodee Rich and Brad Keeling: the joint One-tel CEOs shocked the market and sent their shares tumbling when it was revealed they each collected a $7.5 million pay packet in 2000-01, the vast majority of which was a bonus based on market capitalisation which quickly dissipated.
David Murray: the Commonwealth Bank CEO took $7 million in salary and bonuses home for 2001-02 thanks to a $4.46 million bonus on a contract struck way back in 1992.
Alan Moss: the head of the Millionaire Factory took home $6.1 million in 2001-02, up from the $5 million paid by Macquarie Bank the previous year.