CBA Chief Norris Paid $9.21 Million In 2008/09
Ralph Norris, chief executive of Australia’s largest mortgage lender, Commonwealth Bank of Australia has seen his pay packet increase by 6 per cent to $9.21 million during the 2008/09 financial year as the value of his long term stock payments rose. The value of Mr. Norris’s fixed cash compensation increased by 4 per cent from the previous year to $3.25 million, the Sydney based lender revealed in its annual reports. Whilst Mr. Norris saw an increase of 51 per cent in the discretionary component of his pay package to $1.94 million in company stock which does not vest for several years. This financial year however, CBA said it will cut compensation and directors fees for Mr. Norris, his colleagues on the executive team and board of directors
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CBA Chief Norris Paid $9.21 Million In 2008/09
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