A multinational resources producer will increase employee remuneration.
BHP confirmed most of its workers will receive a 4 per cent wage increase while senior management will enjoy a 3 per cent raise.
Chief executive Mike Henry received no pay rise for the past two financial years at about US$14.6 million (A$21.8M). The figure, which is 123 times greater than the median remuneration across the business, will increase to US$15.1M (A$22.5M) during the 2023 financial year.
Remuneration committee chair Christine O’Reilly revealed most of Henry’s income is paid in company shares instead of money.
“The majority of the CEO’s remuneration package continues to be delivered in BHP equity, not in cash and the CEO’s remuneration is deliberately tied to the performance of the business,” she said in the 2022 annual report.
“The CEO is [also] required to meet a minimum shareholding requirement of five times pre-tax base salary and this applies for two years post-retirement. This ensures that the CEO’s remuneration is aligned to the experience of BHP’s shareholders.”
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Mike Henry is just another WOKELING.