GDG’s Grant Hackett gets $200K pay rise
Generation Development Group (GDG) chief executive and former Olympic swimmer, Grant Hackett has scored a solid pay rise on the back of a benchmarking review of his CEO peers.
GDG announced that Hackett’s fixed remuneration would be boosted to the tune of $200,000 to total $900,000 a year inclusive of superannuation from 1 January, this year.
On top of this, Hackett’s short-ter, incentive has been increased by $500,000 to $1.1 million back-dated to apply from 1 July, last year, provided he hits performance hurdles, while his long-term incentive has been increased by $300,000 to $1.3 million effective from 1 July this year.
GDG told the ASX that the board had approved the lift in Hackett’s salary following the benchmarking review and noted that “the changes reflect the increased scale and complexity of GDG”.
It said this included the strengthening of regulatory and risk capabilities, rationalisation of the Group’s technology architecture, and the establishment of a scalable operating model to support growth following the acquisition of Lonsec and Evidentia.
The company said Hackett’s total remuneration continues to be materially weighted towards performance-based at-risk components and linked to financial, synergy and integration outcomes determined by the Board.
GDG acquired Lonsec in August, 2024, followed by Evidentia in February, last year, with the company’s share price having been on a broadly upward trajectory thereafter.
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