Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Mirvac big wigs get pay rise

By Staff Reporter
20 November 2009 | 1 minute read

Mirvac’s director pay packets have come under fire from several investors who believe the chief executives are not worth what they are being paid.

Advertisement
Advertisement

The salaries of the company’s directors were given a boost yesterday, after 95 per cent of shareholders voted in favour of an increase in director remuneration at the annual general meeting.

However, more than one person present at AGM was not entirely thrilled by the decision to raise director salaries.

One shareholder called the options paid to directors ''exorbitant … for getting some pretty ordinary chief executives over the year''.

But Peter Hawkins, Mirvac’s head of the audit and remuneration committee, backed the decision to lift wages.

''We must attract and retain the best-quality people … we take remuneration very seriously to ensure we have the appropriate policies and people,'' Mr Hawkins said.

Mirvac had an operating profit of $200.75 million for 2008-09, down 43 per cent on the previous year. Its statutory result was a loss of $1.08 billion.

 

Mirvac big wigs get pay rise
default
lawyersweekly logo

Tags:

Listen to other installment of the Real Estate Business Podcast
Do you have an industry update?

top suburbs

12 month growth
Travancore
49.78%
Timboon
49.57%
Dolphin Point
49.51%
Nyah West
49.42%
Preston Beach
49.29%
Newington
48.97%
Killcare Heights
48.89%
Wundowie
48.77%
Homebush
48.44%
Glenside
48.28%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.