I think we have to look at his appointment letter dated 11Dec19 - he was appointed with a fixed salary of $950k/pa(TFR) plus is entitled to short term incentive(STI) each completed FY of up to 150% of TFR subject only to the plan rules and doesn't need shareholder approval. He's also entitled to a long term incentive(LTI) each completed FY of up to 100% of TFR but this is subject to shareholder approval - so don't know how they can pay the LTI if it is knocked back by shareholders.
They've effectively employed him on benefits approaching $3mil pa - is that too much when Goldman Sachs expects profits(NPAT) to be capped around $55-60mil for the next couple of years?
GNC Price at posting:
$4.47 Sentiment: Hold Disclosure: Held
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