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Managing Director/Chief Executive Officer remuneration
The Company’s Managing Director and Chief Executive Officer (MD & CEO) was appointed by the Commonwealth Government through the Shareholder Ministers.
The MD & CEO role has been declared by the Commonwealth Remuneration Tribunal as a Principal Executive Office (PEO) Band D under the Remuneration Tribunal Act 1973 (Cth). The Company’s MD & CEO remuneration has been determined and paid in accordance with the Remuneration Tribunal’s guidance and comprised two components - total fixed remuneration (TFR) and at-risk performance pay (Short Term Incentive or STI).
The Company’s MD & CEO for the period 1 July 2019 to 3 April 2020 was David Knox. TFR for that period was paid at the upper range limit of the Remuneration Tribunal’s “Total Remuneration Reference Rate” (RR) for the office, and the MD & CEO was eligible for STI of up to a maximum of 20% of TFR.
The Company’s MD & CEO from 6 April 2020 was Andrew Seaton. TFR for the period 6 April 2020 to 30 June 2020 was paid at the RR for the office, and the MD & CEO was eligible for STI of up to a maximum of 20% of TFR. For the period 1 July 2019 to 5 April 2020, Mr Seaton was a Senior Executive.