Pay rise for Seven Group boss

SEVEN Group Holdings managing director and chief executive Ryan Stokes is getting a backdated pay rise.

Mr Stokes’ annual fixed remuneration has increased from $1.6m to $1.9m, effective from August 1, after remaining unchanged since he took the top job in June 2015.

“During that time, Seven Group has changed considerably with greater diversification and increase in the size and complexity of the Seven Group portfolio, and market capitalisation increasing from just over $2bn to approximately $8bn,” the group said.

“The change to fixed remuneration is aligned with the company’s policy to position total remuneration for executives principally within a competitive range of a peer group which includes Australian listed companies with characteristics most like Seven Group when compared against a set of financial and qualitative metrics.”

A significant proportion of Mr Stokes’ total remuneration is linked to performance-based outcomes aligning with shareholders’ interests.