Westpac CEO pay surges to A$7.5m despite profit miss

· Politics · Australia

Westpac Banking Corp Chief Executive Officer Anthony Miller's pay surged to A$7.5 million ($5.3 million) despite profit missing expectations and the lender flagging an uncertain outlook for Australia's economy, according to a report. The pay increase comes as the bank faces pressure on earnings. Westpac is one of Australia's largest lenders. No further details on the pay package were given.

Why it matters：Executive pay at a major bank facing profit pressure highlights governance debates over compensation.

Key points

  • Miller's pay rose to A$7.5 million
  • Profit missed analyst estimates
  • The bank flagged an uncertain Australian outlook

Sources (original reporting)

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