INTERNATIONAL COAL NEWS

Union to target BHP

BHP Billiton has countered media reports it is giving a 51% pay rise to its chief executive, Mari...

Blair Price

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A BHP spokesperson told ILN there was a substantial difference between what Kloppers received and what was required to be reported in the company’s recent US annual report.

The spokesperson said Kloppers’ 2009 remuneration was $8,996,674, compared with his 2008 remuneration of $9,051,495.

The reported 51% increase comes from the inclusion of Kloppers’ share-based payments.

The 2009 amount for the long-term incentive plan of $2.97 million comes from a pro rata allocation of five years worth of LTIP awards, while the 2008 amount of $1.4 million comes from four years worth.

The LTIP and other share-based payments are expected values and subject to various conditions, including performance.

Meanwhile, Construction Forestry Mining Energy Union delegates from around the country met in Cessnock last week.

The delegates endorsed a range of conditions to bargain for during negotiations with BHP over the coming year.

CFMEU said these included significant wage increases, a model job security clause and improved housing support.

Interestingly, the union would also like BHP to increase funding for carbon capture and storage projects.

"What is clear to our union is that the company has no respect for wage restraint at an executive level, so any call for restraint from the workers can be expected to be met with the contempt it deserves," CFMEU general president Tony Maher said.

The BHP spokesperson said the company was not specifically responding to CFMEU comments.

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