Quick vote and NZX boss gets deal topping $1.4m
By JAMES WEIR – The Dominion Post | Friday, 7 September 2007
ROBERT KITCHIN/Dominion Post
REASON TO SMILE: NZX shareholders have approved a new incentive scheme for chief executive Mark Weldon, which could potentially boost his annual salary package to more than $1.4m.
In less than five minutes and with just one question, NZX shareholders gave their approval for a new incentive scheme for chief executive Mark Weldon.
Chairman Simon Allen held proxies 95 per cent in favour of the new scheme, but it was passed in a unanimous show of hands by about 20 shareholders at a special meeting in Wellington yesterday.
The incentive scheme, which potentially boosts Mr Weldon’s annual salary package to more than $1.4 million, was recommended by the board.
The scheme runs for 3½ to 4½ years before Mr Weldon gets the full benefit but he is not on a fixed-term contract.
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