News: Echo pays former CEO

.

Echo Entertainment Group Limited (ASX:EGP) paid its former chief executive officer Larry Mullin about $853,000 in fiscal 2013, after he stepped down from the position in September last year.

 

In its annual report, the group says Mr Mullin received cash in lieu of superannuation, as he was a senior executive and temporary resident of Australia.

 

He officially ceased employment on January 31 this year,

 

In fiscal 2012, Mr Mullin's total remuneration was $2.7 million, of which nine per cent was performance based.

 

New chief executive John Redmond's total remuneration was $1.5 million in fiscal 2013, of which eight per cent was performance based.

 

Echo Entertainment generated a net profit of $83.5 million in fiscal 2013.