Pokie CEO hits jackpot
The former Foster's executive earned $3.2 million for the nine months to September 30 - the company's new financial year-end date - nearly $1 million more than he earned for the whole of the previous year, according to the company's annual report.
For the previous financial year ending December 31, Mr Odell was paid $2.26 million.
The company has also tightened its bonds with Mr Odell, who has signed a new service agreement that increases his resignation notice period from three to six months, and his non-compete service period from six to 12 months.
The main boost to his remuneration for the nine months to September was a $1.1 million increase in the value of his long-term incentive pay compared with the previous year, reflecting the view that Aristocrat's five-year turnaround program - introduced by Mr Odell - is starting to show results.
Aristocrat nearly doubled its net profit in the nine months to September, to $45.5 million, from $19.9 million in the same period last year. Aristocrat shares, which started the year at $2.20, hit a year high of $3.28 earlier this month.
The company said its 2012 business review would be available on its website in January. It will hold its AGM on February 20.
Frequently Asked Questions about this Article…
Jamie Odell earned $3.2 million for the nine months to September 30, according to Aristocrat Leisure’s annual report.
The $3.2 million for the nine months to September was nearly $1 million more than the $2.26 million Mr Odell was paid for the previous financial year ending December 31.
The main boost was a $1.1 million increase in the value of his long‑term incentive pay, reflecting the view that Aristocrat’s five‑year turnaround program introduced by Mr Odell is starting to show results.
Aristocrat nearly doubled its net profit in the nine months to September to $45.5 million, up from $19.9 million in the same period last year.
Aristocrat tightened Mr Odell’s bonds by increasing his resignation notice period from three to six months and extending his non‑compete service period from six to 12 months under a new service agreement.
Aristocrat shares started the year at $2.20 and hit a year high of $3.28 earlier in the month referenced by the article.
The article describes a five‑year turnaround program introduced by Jamie Odell; the company says the program is beginning to show results, which contributed to higher long‑term incentive pay and improved financial performance.
The company said its 2012 business review would be available on its website in January, and it would hold its annual general meeting on February 20.
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