The average realised pay for the chief executive of an ASX100 company in the 2023 financial year was 50 times what an average Australian worker earned.
The head of medtech giant ResMed Mick Farrell and News Corporation boss Robert Thomson have taken out the top two spots in an annual list of the highest-paid chief executives of ASX-listed companies, with the average ASX 100 CEO paid 50 times what an average Australian worker earns.
Both ResMed and News Corporation are US-domiciled, with ACSI’s report pointing to the higher pay packets enjoyed by CEOs of foreign-domiciled companies. According to ACSI’s report, Farrell’s realised pay was $47.6 million for the year, while Thomson’s was $41.5 million. BHP chief Mike Henry was next on the list, with realised pay of $19.7 million, followed by Commonwealth Bank’s Matt Comyn, withWith many companies facing an investor backlash over CEO pay last year, ACSI said the slight decline in median “realised pay”, which refers to the cash and equity a CEO received during the year, showed that growing investor scrutiny was making a difference.
ACSI’s executive manager of stewardship, Ed John, also said there was a risk of a “breakout” in Australian CEO pay in the future as he urged boards to not become complacent.Associated Press“That US pay culture versus the Australian pay culture is one comparative point, and certainly is a concern if we follow that path,” John said.
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