It does seem exorbitant in one sense however unlike most of the corporate avarice we observe daily, it's hard to argue against a team of directors that have guided the company through the GFC and still come out the other end with a huge increase in NPAT, effective acquisitions (something that is clearly a strategy fraught with danger at the best of times) and clear guidance to shareholders leading into the future.
In the end, so long as they continue to get the score on the board and make me wealthier, I have no issue with a generous pay increase, reviewed biannually.
NMS Price at posting:
33.9¢ Sentiment: LT Buy Disclosure: Held