Singapore News

News from Singapore

Market boosts CEO’s salary to $6.38m

Posted by jtsmyth8 on November 8, 2007

The bumper year ended June 30 for the Singapore Exchange has translated into bumper pay packages for some of its senior management. And in a move to provide greater transparency on remuneration, SGX for the first time reported the exact remuneration for its entire executive committee instead of reporting it in bands of $150,000.

SGX chief executive Hsieh Fu Hua received $6.38 million for the fiscal year ended June, 49 per cent more than the $4.28 million he earned a year ago.

The bulk of his latest pay package came from a variable bonus of $4.5 million, which is a 63.6 per cent jump from the $2.75 million he received for fiscal 2006. The rest consisted of $754,952 fixed pay, $1.05 million long-term incentive for the first partial vesting of his fiscal 2006 performance shares based on fair value on the grant date, and $71,413 by way of benefits-in-kind. (story)


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