Toll NZ boss paid A$704,000

Toll NZ chief executive David Jackson received pay and benefits worth A$704,000 ($836,000) in the year to June 30, 2006.

Mr Jackson's package has been disclosed for the first time in parent company Toll Holdings' annual report. He is contracted to Toll NZ so his pay does not appear in the Toll NZ annual report.

His package of A$704,000 included salary and fees of A$481,000, a bonus of A$128,000, non-beneficiary benefits of A$26,000 and options valued at A$69,000. The previous year's package was not disclosed.

Mr Jackson is an Australian and he has committed to stay in New Zealand until 2009.

He is among a number of Australian executives who have headed New Zealand companies, including Ralph Waters, the former Fletcher Building boss, and bank chief executives.

Mr Jackson's package is less than $2.92m to $2.93m received by Fonterra boss Andrew Ferrier, who is Canadian.

Telecom boss Theresa Gattung has been paid as much as $2.9m a year.

- NZPA