Aristocrat Leisure Ltd CEO Trevor Croker has seen his pay more than double overnight, jumping from AU$2.7 million to more than AU$5.67 million (US$4.4 million) following his recent relocation to the United States, “subject to achievement of performance hurdles.”
In a filing to the Australian Securities Exchange on Monday, Aristocrat outlined Mr Croker’s revised remuneration package, effective from 1 October 2017, which includes his Short Term Incentive (at target) rising from AU$600,000 to AU$1.42 million (US$1.1 million) and his Long Term Incentive (at target) increasing from AU$1 million to AU$1 million to AU$2.84 million (US$2.2 million).
The company said the package reflects “the completion of Mr Croker’s relocation to the USA and transfer to the company’s US payroll, together with the results of recent remuneration benchmarking for several US based senior executive positions.
“The adjustments also align with US market practice, particularly the higher weighting of at-risk components of compensation.
“These short and long term incentives are paid subject to achievement of performance hurdles and are structured in order to drive delivery of Aristocrat’s strategy and continued growth.”
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