MARKETS SPECTATOR: Mackenzie's BHP packet

Although Andrew Mackenzie faces more stringent remuneration guidelines than his predecessor, success will deliver handsomely.

Andrew Mackenzie, BHP Billiton’s incoming chief executive, could earn as much as $US13 million a year. But Mackenzie will have to outperform by 30.7 per cent BHP Billiton’s competitors and the MSCI world index over a five-year period as well as exceed significantly short-term targets. No one, says BHP Billiton, has done that during the company’s current compensation structure.

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