Full list: Gold Coast’s highest paid bosses revealed
The Gold Coast is known for its thriving business hubs and big wig bosses. What many don’t know, though, is the top dollars they pocket every year. SEE THE TOP EARNERS
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GOLD Coast is known for its thriving business hubs and big wig bosses. What many don’t know, though, is the eye-watering paychecks those CEOs pocket every year.
Real estate, retail and major attractions – built off the back of The Glitter Strip’s tourism – have proved some of the highest-earning industries in recent years.
According to trends, tourism companies who suffered considerably under the strain of Covid-19 have still proven to deliver plentiful income for its bosses.
To break it down, The Bulletin has rounded up some of the city’s top earning CEOs, including the best industries to make megabucks in:
Don Meij, Domino’s Pizza Enterprises
Salary: $2.06m
Don Meij first started his career delivering the very same product his fortune would eventually be made off, working as a delivery driver for Silvio’s Dial-a-Pizza.
These days he’s widely known as the boss of takeaway empire Domino’s Pizza and rakes in more than $2m annually according to documents filed with the ASX.
In the company’s 2021 annual report, Mr Meij is twice listed as a major shareholder who received substantial payouts – an initial $753,194 and second payment of $369,868.
The 51-year-old, father-of-four owns a three-bedroom apartment on the Glitter Strip that he reportedly forked out $5.35m for, located in the eight-story Main Beach SEA building.
Other high flyers who have owned property in the apartment block include VIP Pet Foods founder Tony Quinn, cotton farmer Alan Frost, who paid $5m, and car dealer Greg Eastment.
Dominos was among several businesses to enjoy a profit hike during the pandemic amid a surge in take-out and home delivery orders.
Matt Bekier, The Star Entertainment Group
Salary: $1.72m
While the casino and resort operator mostly calls Brisbane home, the big wig has proved a huge player in the Glitter Strip’s food, dining and accommodation scene.
Star Entertainment Group – owners of the refurbished Star Casino at Broadbeach – bought to the life the former Jupiters Casino, with a $3bn project of five towers planned at the site.
According to Star’s annual 2021 report, Mr Bekier, 54, took home more than $1.72m last financial year but his total package exceeds more than $3m, including a bonus of $1,282,808 in ordinary shares.
The father-of-five took over as CEO in 2014 after working in Star’s finance department.
Despite the recent salary dip, Mr Bekier remains one of the best-paid CEOs among ASX-listed companies with Gold Coast influence.
Carl Bizon, AMA Group
Salary: $1.1m
This CEO was announced in the height of some turmoil for the crash repair company.
Mr Bizon, 58, was named as former boss Andrew Hopkins’s replacement in February 202 following an internal investigation into what AMA Group alleged were unapproved expenses by Mr Hopkins, as well as an alleged $1.375m employee loan in 2019.
In June 2021, AMA Group told a Federal Court it would agreed to early mediation – but plans soon halted after the former boss was hit with another accusation.
The case remains ongoing.
Based in Bundall, the listed company is now regarded as Australia’s largest smash repair group, and boasts contracts with major insurers.
While Mr Bizon took the reins January this year, he entered into quite the cushy contract according to ASX filings, reportedly taking home more than $1.1m.
Documents list Mr Bizon’s base salary including superannuation sits at $900,000, with an additional short term incentive reward of $165,816 award and for long term incentives a total $561, 691.
Mark Weaver, PWR Holdings
Salary: $1.16m
Peter Warren Automotive has long established its name as one of Gold Coast’s most prominent in car dealerships.
PWR – which has locations across The Glitter Strip – is soon set to expand into Victoria after inking a $100m-plus acquisition as demand for new cars continue to outpace supply.
The dealer group – owned and operated by Sydney’s Warren family until its listing earlier this year – on Monday said it had struck a cash and scrip deal to acquire Melbourne’s privately-held and family run Penfold Motor Group for around $104m.
It seems the executives are also reaping the benefits of a well-performing company – CEO Mark Weaver being one of them.
PWR’s annual 2021 report submitted to the ASX states Mr Weave took home a total packaged of about $1.16m for the year.
This includes a fixed annual renumeration of $506,250 plus 25,000 super, while more than $47,000 in added benefits and a short term incentive payment of $590,625 tipped him over the million-dollar mark. Mr Weaver also has shareholdings of $375,000.
Peter George, Retail Food Group
Salary: $1.08m
Retail Food Group is slowly on the mend after a few recent tulmultous years.
It was once a billion-dollar company listed on the ASX200 but turmoil in 2017 over its treatment of franchisees has seen it teeter close to failure.
The Robina-based company, which operates Donut King, Gloria Jeans, Brumbys and Crust, is looking to rebrand and remains subject to an unconscionable conduct case by the Australian Competition and Consumer Commission.
It was October 2018 when Mr George became the franchise giant’s third chairman in a month, a time when profits were evaporating and franchisees were losing their homes.
According to RFG’s annual report, Mr George could take home an annual total package of $1,085,877, with a base salary of $586,719 and a long-term benefit amounting to $452,054
In September this year, RFG reported a store sales growth of 3.2 per cent after it repositioned operations due to the pandemic.
Gary Carroll, G8 Education
Salary: $830,809
As one of the largest listed companies with its head office on the Gold Coast, G8’s market capital has grown by more than $192m since this time last year.
The childcare provider, which reports on a calendar year, slashed its net profit by a fifth to $19m in the first half of 2019, despite growing its earnings by seven per cent, with new accounting standards hitting the company’s bottom line.
Managing director Gary Carroll got a payrise for 2018, making a total remuneration of $905,290 but has since dipped back slightly – a likely consequence of the pandemic.
The company’s annual report for CY20 suggests took in more than $830,000 for the year, comprising of a $757,816 salary including superannuation as well as just under $73,000 in share payments.
Sahba Abedian, Sunland Group
Salary: $805,459
Brisbane-based, Gold Coast-focused developer Sunland is behind some of the city’s most notable buildings like the iconic Q1 tower and Palazzo Versace hotel
Mr Abedian, 45, operates the company alongside original co-founder and father Soheil Abedian and his sibling Mona.
According to reports filed with ASX, Mr Abedian stands to earn a total package of $805,459 – but holds about $9,045,000 in ordinary shares with the company.
The Bulletin reported in August he and wife Nava reportedly planning a family home on what amounts to a large riverfront site in Broadbeach Waters.
It comes after a Sahba-linked company bought a 5298sq m parcel along Monaco St for $12.25m last December and recouped $13m by selling two parcels.
The remaining 1605sq m will be house the new property after the couple sold their beachfront Mermaid Beach abode earlier this year for $17.5m – profiting by $6.5m.
Founder Soheil Abedian announced this month the company had sold its long-planned project The Lanes shopping retail village project for $45.8m to Sydney-based developer Panthera Group.
Greg Yong, Ardent Leisure Group theme parks division
Salary: $611,530
Mr Yong was announced as replacement for former executive John Osborne last April after he decided to step down from the role for personal reasons.
The savvy businessman has previously worked at rival theme park group Village Roadshow in various roles, including chief operating officer – but in recent years jumped ship.
Mr Yong had his work cut out for him amid the company suffering greatly under the strain of the pandemic including a revenue dip of 47.7 per cent to $137.6m in February as the company simultaneously reported a loss of $83.6m.
Ardent Leisure is the parent company that owns Dreamworld and the Q1 Skypoint observation deck on the Gold Coast.
Mr Yong took on the role on an agreed annual base salary of $550,00 but bonuses could see him pocket more than $610,000 – including a short term incentive of $44,000.
It is a jump on his predecessor’s base salary in FY19 who received about $331,412 for his first seven months in the job.
Kees Weel, PWH Holdings
Salary: $546,914
Well respected boss Kees Well has been at the helm of the Ormeau powerhouse since 2003 and continues to be a key player the business’ success.
The operation’s recent revenue hike was credited to its emerging technologies offering, with the PWR reporting a 28.7 per cent rise in net profit, to $16.8m for last financial year.
Its emerging technologies – cold plates for use in radar, avionics and other systems, hydrogen fuel cell heat exchangers – now represents about 11 per cent of the group’s income.
Though it develops and builds parts for race cars and supplies cooling systems to all 10 of the Formula One Grand Prix teams, PWR also received certification in July that would allow it to expand its manufacturing into the aerospace and defence industries.
Mr Weel’s salary and other payments grew to $629,025 in FY2020 – up from $621,152 the previous year – but appears to have dipped during the pandemic, according to reports filed with ASX.
While eligible to participate in long term incentive rewards, the 2021 annual report states Mr Weel elected not to do so as he has a significant shareholding – $20,307,788 to be exact.
Ray James, Icon Energy
Salary: $309,306
After years of falling share prices and a failure to attract investment partners, Varsity Lake’s Icon Energy has flipped its focus to “blue hydrogen” in a move likely to improve business.
It comes after mining and energy stocks took a battering in recent years amid a rise in more sustainable companies along with increasingly environmentally-conscious investors.
Managing director Ray James found himself in 2018 under pressure to cut staff costs that for the final quarter of the year were close to six times the $151,000 spend on site exploration.
According to reports filed with ASX detailing FY20, Mr James took home a total $309,306 – a sizeable dip on the previous year’s earning of $664,198.
Detailed in the most recent report was also a variety of employee benefits totalling more than $26,000, while also sitting on a comfortable $25,231,329 in shareholdings as of June 30 2020.
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