New Lynas boss could take $2m
Incoming Lynas Corporation chief executive Amanda Lacaze could take home more than $2 million in her first year in the job if she meets performance targets.
In a release late yesterday Lynas said the former Commander Communications boss, who joined the struggling rare earths producer as a non-executive director in January, will take home a base salary of $1.2 million a year, plus a sign on bonus of $100,000 in performance rights.
If Ms Lacaze meets set milestones in her first year she will be eligible for a one-off $600,000 performance bonus, paid in cash and shares, plus a short-term cash and scrip incentive of up to $600,000. She is also eligible for Lynas' long-term plan of up $600,000 a year in shares.
Ms Lacaze previously served as executive chairman of Orion Telecommunications, as AOL7's chief executive and Telstra's head of marketing. She was appointed to the top job at Lynas after the sudden departure of Eric Noyrez in early June, weeks after Lynas returned to the capital markets in a $40 million raising to stave off liquidity concerns.
Mr Noyrez became Lynas' chief executive in March 2013. According to Lynas' 2012-13 annual report, he took home $1.9 million last financial year for his work as COO and then CEO.
