CSL Decides Against CEO Salary Raise While Board Members Take A Healthy Pay Rise

CSL Limited (ASX: CSL) has decided not to give any raise to CEO Paul Perreault in his base pay this year. The remuneration committee has decided to stay put on Perreault’s fixed pay or short-term reward target for the second consecutive year. As decided by CSL, Perreault’s take-home pay amounted to $US US7,394,489 for 2018, down by around 0.2% from the previous year. Statutory pay totaled to $US11,266,445, out of which 84% was performance-based, higher than $US8,180,831 last year. Board of Directors, on the other hand, decided to take a raise in their remuneration to be in line with the ASX Top 12 companies.

CSL posted a profit after tax of $US 1.729 Bn for the full year 2018 and revenue of $US7.6 Bn, an increase of 14.7% pcp. The decision by CSL comes in contrast with the CEOs of other ASX listed companies who have to kept getting rewarded and earn bonus just for meeting the targets, forget any exceptional performance. Shareholders, on the other hand, are not impressed with the companies overpaying the top management. CSL’ Chair of the Human Resources and Remuneration Committee Megan Clark stated that the decision of not raising CEO’s pay was taken post shareholder feedback and global market positioning.  [optin-monster-shortcode id=”wxhmli4jjedneglg1trq”]

Clark stated that the committee has decided to increase Perreault’s LTI target by 13% which is both time and performance hurdled. The decision has been taken to strike a fine balance between the incentives and interests of the shareholders. Base pay remains fixed at $US1,751,000 and his short-term incentive target is set at 120% with the maximum payout at 180% along with the long-term incentive target of 310%.

CSL’s share traded at $210.62 with the market capitalization of circa $93.41 Bn as on September 14, 2018.

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report