skip to main content
  • *
  • *
  • *
Find Insight DIY on
* * *

UK DIY News

Wesfarmers CEO takes pay cut

Bunnings store and hammer 725 x 500

The CEO of Wesfarmers - Richard Goydon - has taken a notable pay cut, with the value of his short-term incentive payments having reduced by half compared to last year.

The Wesfarmers annual report for 2015-16 showed that Goyder's base salary was $3,348m AUS - little changed from the previous year - but his incentive payments had dropped to $1.05m AUS, compared with $2.1m AUS.

Overall, his renumeration package has dropped to $5.5m, compared with $9.9m in 2014-15.

The reductions come as a result of an 83.3% decline in profits at Wesfarmers, which has diversified interests in the mining, industrial and chemical sectors, but predominantly operates within the retailing sector.  The conglomerate owns retail brands Bunnings, Coles, K-Mart, Target and Officeworks in Australia and New Zealand.

Learn more about Wesfarmers' agreement to acquire Homebase.

Earlier this week, Wesfarmers confirmed it has reversed Homebase's decision to close a store in Omagh.  

Source :  Insight DIY

Want more news like this? Sign-up for our weekly newsletter here.

If your business is interested in pricing intelligence or you're currently trying to track retail prices manually, there really is a much easier way. Just contact us here.

Interested in advertising on Insight DIY? Learn more here.

 

 

22 September 2016

Related News

view more UK DIY News
*

I find the news and articles they publish really useful and enjoy reading their views and commentary on the industry. It's the only source of quality, reliable information on our major customers and it's used regularly by myself and my team.

*
Simon Fleet - Sales & Marketing Director, Thomas Dudley Ltd
Newsletters

Don't miss out on all the latest, breaking news from the DIY industry