Amcor seeks approval for rewards
Packaging giant Amcor has announced it will seek shareholder approval for issuing over $2 million in reward payments and options for CEO Ken MacKenzie.
The announcement comes as Mr MacKenzie was awarded a 6 per cent payrise, bringing his total remuneration package to $6.4 million in 2011.
Mr MacKenzie was awarded significant increases to his short-term reward packages after the company delivered a 39 per cent increase to its profits.
News of Mr MacKenzie’s pay rise comes as Amcor issued an 86 per cent salary increase to Peter Brues, the company’s head of its flexible packaging business, brining his salary up to $4.04 from $2.17 in 2010.