The chief executive of outdoor decking group Azek will be entitled to more than $30 million if the controversial $14 billion takeover by building materials giant James Hardie proceeds, new documents show.
The documents outline that the $US19.4 million ($30.1 million) payout will be made because Azek chief executive Jess Singh’s role will become redundant if the merger is approved by shareholders in the United States next month.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
