Ralph Norris Australia's highest-paid exec
New Zealander Ralph Norris, the chief executive of Commonwealth Bank of Australia, has topped a Wall Street Journal survey of Australia’s highest-paid executives.
The former Air New Zealand boss almost doubled his total pay packet to A$16.2 million, sparking an outcry across the Tasman as the public bank-bashing mood escalates.
The survey covered 20 of the highest-paid executives at listed companies in Australia.
Five of the top ten highest-paid executives work for banks and four bank executives earned more than A$10 million this year, the Wall Street Journal said.
The Australian Greens party, which supports Prime Minister Julia Gillard’s minority Labor government, is looking for executive salaries to be capped at A$5 million.