Chief executives of media companies in Australia did well in terms of pay rises and the value they pull in from short and long term incentives.
Nine Entertainment CEO Mike Sneesby, following a review, got a 7.1% rise, taking his base rate to $1.5 million, according to the latest company annual report.
Sneesby has not had an increase in his fixed remuneration since his appointment as CEO in 2021.
Michael Stephenson, the chief sales officer, got 4%, upping his base to $990,000 effective from July 1, 2023.
The board says it took into consideration “appropriate external benchmarking” and the performance of executives in making its decision.
Actual remuneration: Mike Sneesby: $2,699,462 in 2023 versus $2,699,462 (2022); chief sales officer Michael Stephenson: $1,820,118 in 2023 versus $1,869,370 (2022)
Statutory remuneration: Mike Sneesby: $3,414,189 Vs $3,924,048 (2022); Michael Stephenson: $1,689,786 versus $2,006,090 (2022)
These numbers don’t come close to the pay of CEOs at the big global advertising groups.
Mark Read at WPP, according to the 2022 annual report, was paid a total of GBP6.682 million (AUD12.7 million). His base was GBP1.061 million. John Wren at Omnicom gets $US20.7 million and Philippe Krakowsky at IPG $US13.2 million.
Back in Australia, here’s the pay at some ASX-listed media companies:
Seven West Media
Actual remuneration: CEO James Warburton: $1,362,134 Vs $2,389,837 (2022); Chief revenue officer Kurt Burnette: $1,258,054 Vs $1,583,256 (2022)
Equity Payments: James Warburton: $4,218,750 Vs $822,994; Kurt Burnette: $976,562 Vs $254,011
ENERO
CEO Brent Scrimshaw: $2,002,994 (including 823,408 salary) Vs $2,006,399 (2022)
474,804 ordinary shares, 2,558,335 share rights
Ooh!Media
CEO Cathy O’Connor: $2,053,316 including $1,310,447 salary (35% performance based) Vs $1,772,598 (2021)
SCA
CEO Grant Blackley: $2,432,688 (2023) $1,692,408 2 (2022)
The new CEO, John Kelly, has a base salary of $800,000 plus an incentive of up to 150% of that.
ARN Media
CEO Ciaran Davis: $2,004,345 (salary $1,139,930) (2022) Vs $2,465,428 (2021)
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