Incoming Wesfarmers chief executive Rob Scott could earn up to $4 million less than his outgoing boss Richard Goyder, after agreeing to a $1 million cut to fixed pay and $3 million cut to bonuses.
Wesfarmers released details of Mr Scott's pay while also revealing long-serving chief financial officer Terry Bowen will leave the Perth-based conglomerate later this year.
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Julie-anne Sprague co-edits our Rich Lists and covers entrepreneurs, wealth creation and investments. A senior journalist in our newsroom, Julie-anne has covered politics, property, agribusiness, retail and stockmarkets in both the UK and Australia. Connect with Julie-anne on Twitter. Email Julie-anne at jsprague@afr.com