CommBank CIO gets his share

Summary:Commonwealth Bank of Australia has revealed that the reported annual payment of its chief information officer Michael Harte has increased by over a million dollars.

in brief Commonwealth Bank of Australia has revealed that the reported annual payment of its chief information officer Michael Harte has increased by over a million dollars.

Although Harte's base pay and short-term incentive payments have remained roughly the same, or have been reduced on the previous year, his long-term incentives have increased substantially.

In total, Harte has been credited with receiving $4,211,981 for the year's work. However, around $2 million worth of that reward was due to long-term incentives. Long-term incentive figures reflect share or options that have been issued with long-term performance hurdles attached. The annual value of such rewards can only be estimated.

Harte was praised at the bank's annual results for being instrumental to the company's success.

Topics: CXO

About

Suzanne Tindal cut her teeth at ZDNet.com.au as the site's telecommunications reporter, a role that saw her break some of the biggest stories associated with the National Broadband Network process. She then turned her attention to all matters in government and corporate ICT circles. Now she's taking on the whole gamut as news editor for t... Full Bio

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