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The 25 new chief executives appointed to top 200 companies over the past 18 months received an average 25 per cent pay cut from their predecessors, according to new research by consultants Egan Associates.
The research reveals that the new batch of CEOs, which included Wesfarmers' Rob Scott, Origin Energy CEO Frank Calabria and Carsales CEO Cameron McIntyre, received an average $4.19 million pay packet compared to over $5 million for the outgoing CEOs.
Read the full article on the Australian Financial Review.