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Outgoing BHP Billiton chief Chip Goodyear banks salary package worth $A8.9m; company profits at $A15bn

Posted by gasweek on 2 October, 2007

Outgoing BHP Billiton chief executive Chip Goodyear would exit the miner with his wallet bursting at the seams, taking home a package worth almost $A9 million, wrote Ben Sharples in The Canberra Times (27/9/2007, p.15).

Good year for Goodyear: The boss of the world’s largest mining company earned a base salary of $US1.78 million ($A2.04 million) in the 2007 fiscal year, topped up by a bonus of $A1.74 million. Together with share-based payments, Goodyear banked a salary package worth $A8.96 million. This compared with the $A7.46 million he received in fiscal 2006.

And others: Incoming chief executive Marius Kloppers earned $A4.58 million during the year, up on the previous figure of $A4.13 million. Kloppers’s base salary would increase to $A2.12 million when he assumed the chief executive role next month, up from $A1.16 million. Chris Lynch, who retired from his post as president of the company’s carbon steel materials division earlier this year, exited the company with $A5.27 million. It was widely believed that Lynch left BHP Billiton after missing out on the top job at the company.

BHP profits surge: BHP Billiton would have no problem paying the salaries, after delivering a net profit of $A15.38 billion for the 12 months to June 30, bolstered by the China-driven commodity boom. BHP Billiton directors may have to buy themselves bigger wallets this year, with the commodity boom continuing.

The Canberra Times, 27/9/2007, p. 15

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