Incoming Mineral Resources chairman Malcolm Bundey could pocket a windfall of $8.3 million over the next three years if he turns around the scandal-ridden miner, as he vowed to improve culture and governance at the company.
Bundey, whose resume includes working at Pact and Rank group, but who has no mining experience, will start as MinRes’ non-executive chairman in July. He will be paid an annual salary of $750,000 in cash and shares, and issued 780,000 options, which vest between $30 and $40 a share. The options’ exercise price is $25.40 a share.
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Mark Wembridge covers resource companies for The Australian Financial Review, based in Perth. He formerly worked for the Financial Times in London and Hong Kong. Connect with Mark on Twitter. Email Mark at mark.wembridge@nine.com.au
Mark Di Stefano is Rear Window columnist, based in the Sydney newsroom. He previously worked at BuzzFeed, the Financial Times and The Information before joining the Financial Review as a media and tech correspondent. Connect with Mark on Twitter. Email Mark at mark.distefano@afr.com
