$20 million payout for ex-CSL chief McNamee
Former CSL boss Brian McNamee left the top position at the blood products and vaccines supplier with pay and entitlements worth almost $20 million.
Dr McNamee spent 23 years as chief executive of CSL and stepped down on June 30, after growing the company into a global bio-pharmaceutical company with an increased annual profit of $US1.22 billion in the 2012-13 financial year. He continues in an advisory capacity to the CSL board until October 15.
Dr McNamee was replaced by Paul Perreault, who, as president of CSL Behring, received $3.04 million in fiscal 2013.
CSL's annual report, released on Friday, shows that Dr McNamee's total remuneration for fiscal 2013 was $19.6 million compared with $7.99 million in the prior year. $7.88 million was received or available as cash in respect of 2013.
Dr McNamee's package included a cash salary and fees in 2013 of $3.41 million, up from $2.74 million.
He received a cash bonus of $2.38 million. His pay was boosted by a termination payment of $2.9 million, $7.75 million in performance rights and $1.77 million in performance options.
CSL said Dr McNamee's reported remuneration for 2013 included the full value of long-term incentives that were granted under the company's performance rights plan and reported between 2009 and 2012.
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