Fairfax chief takes pay cut

Fairfax chief executive sees pay drop by $375,000 after missing out on bonuses.

Fairfax Media (FXJ) boss Greg Hywood's pay dropped by $375,000 last financial year because he missed out on bonuses as the company posted a $16.4 million full year loss.

Mr Hywood's total pay, which includes shares in the company, was $1.98 million in the 2012/13 financial year, down from $2.35 million in 2011/12.

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