NZX boss Mark Weldon paid $1.39 million

NZX chief executive Mark Weldon. Photo / Mark Mitchell

NZX chief executive Mark Weldon was paid $1.39 million last year, up from $895,566 the previous year.

The remuneration was disclosed in the company's 2009 annual report.

Chairman Andrew Harmos told NZPA the year had been extraordinary for the NZX with the sale of the Bond Exchange of South African shareholding and TZ1 subsidiary.

"If there was ever a year that reflected real value added to shareholders, this was it," he said. Weldon was paid a bonus of twice his salary component, he said.

Harmos says in the annual report that despite general market conditions there were a number of standout achievements for NZX in 2009, which contributed to a record financial result.

"The board considers the results achieved for NZX shareholders by the management team to be outstanding," Harmos said in the annual report.

NZX saw itself as much more than the provider of an order-matching market and related services in New Zealand.

"NZX willingly assumes a leadership role in New Zealand capital markets, and in the promotion of New Zealand Inc," he said.

The board was encouraging of Mr Weldon chairing the Prime Minister's Employment Summit in February 2009 and his membership of both the Capital Markets Development Taskforce and Tax Working Group.

The focus for NZX in 2010 included the launch of the Clearing House, the launch of derivatives products, further development of the grain exchange business in Australia and further development of the rural information business in both Australia and New Zealand.

- NZPA