2009-10 Annual Report - Australia Post

notes to And ForminG PArt oF the FinAnCiAl rePort For the year ended 30 June 2010
27 Key management personnel remuneration and retirement benefits (continued)
(e) Compensation of key management personnel
the remuneration received or due and receivable directly or indirectly by the corporation’s directors and executives is as follows:
year ended 30 June 2010
directors
david Mortimer
Mark Birrell
ahmed Fahour (5)
Graeme John (6)
Margaret Gibson
ian Warner
Mark darras
William Mansfield
peter carne (7)
82
Cash salary (1)
$
167,360
58,766
592,867
976,049
97,410
88,270
79,496
79,120
43,137
short-term
benefits
At risk
component (2)
non-monetary
benefits
$
(3)
$
–
–
656,250
420,000
–
–
–
–
–
9,224
–
3,572
29,957
–
4,555
–
–
–
AustrAliA Post AnnuAl rePort 2009–10 | Financial and statutory reports
Postemployment
benefits
superannuation
benefits (4)
$
23,932
8,404
172,592
600,762
13,930
12,623
11,368
11,314
6,169
other
long-term
benefits
long service
leave
$
–
–
17,238
59,942
–
–
–
–
–
termination
benefits
termination
$
–
–
–
–
–
–
–
–
–
total
$
200,516
67,170
1,442,519
2,086,710
111,340
105,448
90,864
90,434
49,306
2,182,475 1,076,250 47,308 861,094 77,180 – 4,244,307
executives
Mark howard (8)
518,186 165,337 3,948 126,723 16,824
– 831,018
James Marshall
590,662 616,400
– 172,916 9,308
– 1,389,286
rodney Mcdonald
400,970 179,400 7,443 79,304 8,990
– 676,107
peter Meehan
500,940 215,664 15,369 103,694 9,065
– 844,732
Bill Mitchell
509,217 371,488 91,454 123,021 7,032
– 1,102,212
terry sinclair
485,748 234,000 19,373 100,386 15,049
– 854,556
total key management
3,005,723 1,782,289 137,587 706,044 66,268 – 5,697,911
personnel 5,188,198 2,858,539 184,895 1,567,138 143,448 – 9,942,218
(1) included in cash salary are movements in the executives’ annual leave entitlement and allowances paid in cash.
(2) represents a cash incentive reward that is payable subject to the employee meeting or exceeding specific key annual business objectives linked to the annual business plan
at a corporate and individual level.
(3) non-monetary benefits include spouse travel, motor vehicles and other expenses paid on behalf of the directors and executives.
(4) the above amount for superannuation approximates the benefit to be received by the directors and executives (calculated at 14.3% of the directors’ and executives’ salary
for superannuation purposes) and cannot decrease from previous years.
(5) commenced the role of Managing director and chief executive officer on 1 February 2010.
(6) While Graeme John ceased to be the Managing director on 31 January 2010, he continues to be employed by the corporation, utilising accrued leave benefits.
the total remuneration disclosed relates to the benefits received or receivable to the planned exit date.
(7) commenced the role of a director on 14 december 2009.
(8) While Mark howard ceased to be the General Manager, corporate infrastructure services division on 30 april 2010, he continues to be employed by the corporation,
utilising accrued leave benefits. the total remuneration disclosed relates to the benefits received or receivable to the planned exit date.