Dixon gets more BICKIES
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Dixon gets more BICKIES
4. Dixon's good deal at Qantas
Aviation correspondent Pemberton Strong writes:
Gee Qantas knows a good deal when it sees one. The board that is. There's British Airways, now departed back to London, a very rapidly receding memory and what does the board propose in today's notice of meeting for the forthcoming AGM?
Nothing more than showering more largess on non-executive directors and on the two most senior executives, Geoff Dixon and Peter Gregg.
Approval is being sought to award CEO Dixon 450,000 deferred shares and a further 450,000 performance rights over the next three years to the end of the 2006-2007 year (his recently signed new contract expires on July 1, 2007.
Cunning that. His pay won't appear until the 2007-2008 annual report!).
At current prices these shares would be worth more than $3.1 million dollars in 2007. That's equal to another 18 months or so pay under the deal revealed last month that sees Dixon being paid $2 million a year. He could also get a bonus of up to 60% of that figure. The basic salary could rise from year to year, lifting the bonus, so long as certain yardsticks are met.
Read Pemberton Strong's full report on the site here: http://www.crikey.com.au/business/2004/09/13-0008.html
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Aviation correspondent Pemberton Strong writes:
Gee Qantas knows a good deal when it sees one. The board that is. There's British Airways, now departed back to London, a very rapidly receding memory and what does the board propose in today's notice of meeting for the forthcoming AGM?
Nothing more than showering more largess on non-executive directors and on the two most senior executives, Geoff Dixon and Peter Gregg.
Approval is being sought to award CEO Dixon 450,000 deferred shares and a further 450,000 performance rights over the next three years to the end of the 2006-2007 year (his recently signed new contract expires on July 1, 2007.
Cunning that. His pay won't appear until the 2007-2008 annual report!).
At current prices these shares would be worth more than $3.1 million dollars in 2007. That's equal to another 18 months or so pay under the deal revealed last month that sees Dixon being paid $2 million a year. He could also get a bonus of up to 60% of that figure. The basic salary could rise from year to year, lifting the bonus, so long as certain yardsticks are met.
Read Pemberton Strong's full report on the site here: http://www.crikey.com.au/business/2004/09/13-0008.html
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