KEY POINTS:
Former Air New Zealand chief executive Ralph Norris has received a combined salary and share package of A$10 million ($11 million) during the past year as head of Australia's Commonwealth Bank.
In doing so, Norris, who was appointed to the bank's top job in September 2005, has joined his peers at the top of the Australian banking industry's remuneration league, the Sydney Morning Herald reported.
Norris' first full 12 months in charge at Commonwealth saw him earn a "basic" deal of A$6.57 million. That included a guaranteed salary of A$1.46 million and a bonus of A$2.85 million after he propelled Commonwealth to an annual profit of A$4.6 billion, announced two weeks ago. In his last year running Air New Zealand, he picked up $1.46 million , including a base salary of $1 million and incentive of $460,250.
- NZPA
