• Full Story

Top banking exec's pay halved to $10.8 million

Email
Print

Tue, 16 Aug 2011 8:26a.m.

Ralph Norris

Ralph Norris

Australia's highest paid executive, New Zealander Ralph Norris, is paying the price for an unpopular decision last November to sharply increase his bank's mortgage interest rates.

His pay has been virtually halved by the Commonwealth Bank of Australia's shareholders.

Mr Norris, last financial year, was paid just over $20 million, but his salary was cut to $10.8 million this year.

RadioLIVE

Become a fan of 3 News on Facebook and on Twitter.

Post a Comment

Before commenting, please take the time to read our moderation guide


(Won't be published)



Comments

16 Aug 2011 12:04p.m.

malcolm wrote:

Ralph has brought the CBA into the new age so far as computer systems are concerned. Shareprice of CBA suggests he is worth large salary. As shareholder I suggest next MD has a high standard to uphold.

16 Aug 2011 12:04p.m.

Ricardo wrote:

Is anyone worth that much? The big equalizer is that one day we all die, rich or poor I guess.

16 Aug 2011 11:34a.m.

Jay wrote:

@Neil HAHA I agree... I think its shocking that someone would get paid this much when there is such mass starvation in the world... but this wouldnt even be the highest paid man in the world.

16 Aug 2011 11:25a.m.

Kim wrote:

Oh you poor man. Here have some of our poor peoples dole payments to make up for it...

16 Aug 2011 10:36a.m.

David Jacobs wrote:

The PM gets far less and has much more responsibility. The amount paid to some bankers is simply unjustified and obscene.

16 Aug 2011 10:35a.m.

Neil wrote:

Oh dear how on earth will he survive - salary halved? Try living on $32,000 per annum mate - then you'll be in the real world.

16 Aug 2011 09:17a.m.

winegrower wrote:

A little light at the end of the tunnel?

16 Aug 2011 09:06a.m.

Fellowes wrote:

NOW do you see how silly capitalism is.