Dr Mumbo

Seven West Media managers tighten their bonus belts

Dr Mumbo’s favourite thing when ASX companies’ annual reports come out is to turn straight to the remuneration page to find out just what the bigwigs are being paid.

So in the context of Seven West Media losing a quarter of its value over the last two days of trading after publishing its results for the last financial year, Dr Mumbo was intrigued to find out the winners and losers…

Not only does the SWM annual report show bosses’ salaries, but also what percentage each of them got of their annual bonus, based on hitting their KPIs.

Top of the class came chief digital officer Clive Dickens (pictured), who got 55% of his short term incentive plan.

Clive Dickens has been appointed to the Newzulu board

Sadly Clive was the only one to score above half marks, with CEO Tim Warner doing next best with 38% of his potential bonus.

Then came commercial director Bruce McWilliam with 30%.

HR boss Melanie Allibon got 20% and corporate affairs honcho Bridget Fair scored 18%.

Chief revenue officer Kurt Burnette found himself in “could do better” territory with just 12%.

And bottom of the class came West Australian newspapers boss Chris Wharton, Pacific Magazines boss Peter Zavecz and chief financial officer Warwick Lynch, all of whom  forfeited their entire bonuses.

SWM bonus table

Meanwhile, the company’s top paid individual remained Worner, who trousered a respectable $2.8m, albeit down a little on the $3m+ he received the year before.

Next came Burnette, who clocked up $1.4m , down a tad on the previous year’s $1.6m.

Thanks to his bonus, star student Dickens overtook several of his colleagues, with total remuneration of $771,000.

Meanwhile, Wharton fell from $1.2m to $811,000 while Zav had to get by on just $643,000.

swm remuneration


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