AMP has today confirmed that its new chair, David Murray, and its acting chief executive, Mike Wilkins, will receive annual salaries of $850,000 and $1.46 million inclusive of superannuation, respectively.
Wilkins would receive the above salary until 31 December, 2018 unless a permanent CEO is appointed or he and AMP mutually agree on another date, in which case it would be pro-rated accordingly. He would not be eligible for any short or long-term incentives.
While Wilkins would not receive any director fees while serving as an executive, he would be paid an addition $70,1000 for the additional responsibilities he assumed as acting executive chair from 30 April, this year to 20 June.
Murray would receive no additional fees for his participation in board committees or subsidiary company boards.
AMP said that both remuneration arrangements were benchmarked against industry standards.