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Scentre shareholders deliver first strike against CEO’s $5.5m pay

Nick Lenaghan
Nick LenaghanProperty editor

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Shareholders at Westfield operator Scentre, the country’s largest shopping mall landlord, have delivered a first strike at their annual meeting against the company’s remuneration report, which awarded chief executive Elliott Rusanow almost $5.5 million for the 2023 year.

The bulk of that sum came in variable, performance-linked remuneration, both as cash and rights, with $1.8 million in fixed remuneration. His base pay was lifted to $2 million from January this year, while that of the chief financial officer and human resources boss also rose after the company benchmarked Scentre’s pay levels against other top ASX companies.

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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com

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    Original URL: https://www.afr.com/property/commercial/scentre-shareholders-deliver-first-strike-against-ceo-s-5-5m-pay-20240404-p5fhhx