Executives in ASX-listed cannabis firms face pressure due to stakeholders, competition, and regulatory demands. Despite revenue growth, profitability remains a challenge for most companies, with only Vitura Health paying dividends. Annual reports reveal mixed executive rewards, reflecting efforts to align remuneration with long-term shareholder value. Financial pressure persists in this tough market as firms strive for profitability.
Despite doubling profits – to A$13.8m after tax on revenue growth of 75% – all senior executives saw a drop in their total remuneration.In the 12 months to June 30, chief executive Rodney Cocks collected a package worth $696,745, a 13% reduction on $801,178 in FY22.While his base salary climbed from $306,706 to $320,000, and short-term incentives (STI) rose from $92,040 to the maximum-allowed reward of $160,000 – representing 50% of his base salary – the value of his long-term incentives (LTI) halved to $191,453. In its annual report, Vitura said it was working with independent consultants to design an “appropriate LTI scheme…
Source: Cannabiz
Salary packages of Australian Cannabis Industry Executives top $800K annually, with many earning between $300-600k+
Despite doubling profits – to A$13.8m after tax on revenue growth of 75% – all senior executives saw a drop in their total remuneration.In the 12 months to June 30, chief executive Rodney Cocks collected a package worth $696,745, a 13% reduction on $801,178 in FY22.While his base salary climbed from $306,706 to $320,000, and short-term incentives (STI) rose from $92,040 to the maximum-allowed reward of $160,000 – representing 50% of his base salary – the value of his long-term incentives (LTI) halved to $191,453. In its annual report, Vitura said it was working with independent consultants to design an “appropriate LTI scheme…
Source: Cannabiz