SingTel's new CEO to get S$75,000 a month, annual pay around S$5m
Posted: 30 March 2007 2234 hrs
SINGAPORE: SingTel's incoming CEO, Chua Sock Koong, will be paid a base salary of S$75,000 a month. Ms Chua is set to start her appointment on Sunday.
In a statement to Singapore Exchange, the telco says her salary will be reviewed at the board of directors' discretion each year.
In addition, she will be paid car and driver allowances amounting to S$5,500 per month.
Besides annual short term incentive payments, she will be entitled to participate in SingTel's long term incentive plan through performance shares.
SingTel's statement adds that the on-target total remuneration for Ms Chua is expected to be around S$5m for the financial year to next March.
If she exceeds her prescribed targets, SingTel's board can decide to pay her more based on her performance and market benchmarks.
Meantime, SingTel threw an in-house staff party for outgoing CEO Lee Hsien Yang.
In a speech, Mr Lee said his time at SingTel has been "incredibly fulfilling".
"If I could turn the clock back, I'd do it again. But let me say that, I suppose at some point in time, I need to move on. I know it's good for me and I know it's good for the company. Let me say that I've really enjoyed my time here," he said. - CNA/yy
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