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Former Westpac CEO Brian Hartzer takes $2.8m hit as executives count Austrac cost Long-term incentives...

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Accounting

Former Westpac CEO Brian Hartzer takes $2.8m hit as executives count Austrac cost Long-term incentives also lapsed, making it five years since the troubled bank's top executives have been paid an LTI.

Westpac's annual report, released on Monday, confirmed that Mr Hartzer only received his contractual entitlements after he was ousted a year ago in response to Austrac's statement of claim. His 2020 entitlements included $3m in fixed pay, offset by $2.8 in lapsed share rights and $21.5m in lapsed CEO performance share rights.

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