Treasury Wine Estates head paid AUD3.23m in first year
Clarke is in line for future incentives
Treasury Wine Estates' CEO, Michael Clarke, earned AUD3.23m (US$2.26m) for his first full year in the job, with future bonuses liable to add another million.
Clarke, who joined TWE in April 2014, was paid a basic salary of AUD1.68m plus AUD1.53m in cash incentives, according to the company's annual report. Non-monetary benefits and potential incentives, if realised, would see Clarke's pay packet swell to AUD4.4m.
The CEO was tasked on arrival with turning around a struggling TWE that had suffered a heavy write-down on its US assets and was dropping profits. He has since overseen a strong set of fiscal-2015 results, with enviable growth in Asia.
That success has been reflected in TWE's share price, which has increased from AUD3.50 when Clarke started to about AUD6 today, adding about AUD1bn in shareholder value.
Alcoholic beverages are broadly categorized into three types: beer, spirits (distilled beverages), and wine....
The global alcoholic drinks market will have a moderate growth rate during the forecast period....
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