Retail in Asia

In People

Ex-Myer CEO Bernie Brookes salary climbs to USD3.2m in 2015

Former Myer chief executive Bernie Brookes earned AUD4.3 million (USD3.2m) in his final year at the helm of the department store chain despite a 21 percent fall in underlying profits in 2015.

Myer’s latest annual report showed that Mr Brookes’ total remuneration jumped 65 percent, from AUD2.57 million to AUD4.25 million in 2015, including a AUD1.55 million termination benefit and a 27 percent increase in his base salary to AUD2.33 million.

Mr Brookes was originally due to depart Myer in August 2014, after eight years at the helm, but extended his contract and negotiated a pay rise in February 2014 in the midst of an ultimately unsuccessful merger proposal with David Jones.