Woolworths lifts executive pay

Woolworths (WOW) increased the total remuneration for its chairman and chief executive officer in fiscal 2013 as the retailer posted a a higher full-year profit.

In its annual report, the retailer said chief executive officer Grant O'Brien's total remuneration was $5.7 million in fiscal 2013, compared with $4.2 million in the previous year. 

Chairman Ralph Waters' total remuneration was $544,082 in the year, compared with $277,954 in the prior year. 

The figures include salary, short-term incentives and long-term incentives.

Woolworths reported a net profit of $2.26 billion in fiscal 2013, a 24.4% increase on the $1.82 billion recorded in the prior year.