BHP Billiton executives on a gold mine
Mining giant BHP Billiton has spent close to $19 million on its executive remuneration pay packages in the 2010-2011 financial year in a move that BHP Chairman John Buchanan describes as an investment geared towards reaping future rewards.
“We have maintained our approach of providing relevant performance and remuneration information, enabling shareholders to assess the linkages between executive remuneration and executive of the Group’s strategy and Group performance,” Mr Buchanan said.
Mr Buchanan reiterated that the company has no intention on making any major alterations to the remuneration scheme beyond accepting that sustainability and value-creation was key to future remuneration packages.
"To achieve our business goals, our remuneration must remain competitive to attract and retain talented executives, enabling us to realise our opportunities and further develop our business," Mr Buchanan said.
BHP revealed that Group Executive Andrew Mackenzie received a total pay package of $9.17 million, while CEO Marius Kloppers collected $11.37 million for the 2010-2011 financial year.
BHP’s summary review can be found here