Salary of BHP CEO cut in half after Brazil mine disaster
- Top 10 News for 9/19 - 9/23: Twitter on the Auction Block; Allergan Bolsters NASH Effort; Microsoft Returns Value
- Wall Street falls as energy lags; shares post gains on week
- Rumored Forever, Twitter (TWTR) May Have Finally Put the 'For Sale' Sign Up
- Facebook (FB) Shares Under Pressure on Reports Video Ad Metrics Were Artificially Inflated
- Brookfield Infrastructure (BIP)-Led Consortium to Take Controlling Stake in Petrobras' (PBR) NTS for $5.2B
BHP Billiton Chief Executive Andrew Mackenzie prepares to discuss the company's annual results at a meeting in Sydney, Australia August 20, 2013. REUTERS/David Gray/File Photo
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
SYDNEY (Reuters) - BHP Billiton (NYSE: BHP) (NYSE: BLT) Chief Executive Andrew Mackenzie's annual salary was cut in half following the Samarco dam disaster in Brazil that claimed 19 lives and caused widespread environmental damage, the global miner said.
Mackenzie was paid $2.24 million in the 2016 fiscal year, down from $4.58 million the previous year. While his base salary was maintained at $1.7 million, he did not receive any short- or long-term incentive payments, according to BHP's annual report.
"The dam failure at Samarco was a key consideration, along with the ongoing decline in commodity markets and its associated impact on our performance," BHP said in the report.
Almost a year after the spill at the Samarco mine, owned jointly by BHP and Brazilian miner Vale
For the year to the end of June, BHP reported a record $6.4 billion net loss.
(Reporting by James Regan; Editing by Ed Davies)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Kerry's ceaseless diplomacy faces sternest test on Syria
- Oman Air apologizes for maps using 'Persian Gulf' label
- Erdogan accuses U.S. court of 'ulterior motives' in case against gold trader
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!