Coles + Bunnings boss pay cut – but will still make $10MILLION a year or $27,400 a day

Coles and Bunnings owner Wesfarmers will pay its new chief executive $3 million less than outgoing long-serving boss Richard Goyder.

Olympic medallist and recently installed deputy CEO Rob Scott will replace Mr Goyder in November when he steps down after 12 years in the top job to lead the AFL Commission.

Mr Scott won’t be inheriting Mr Goyder’s fixed salary of $3.5 million.

Instead he will be paid $2.5 million and his total pay packet, including incentives, is set at $7.5 million

Source: Wesfarmers new CEO to be paid less