Kogan Boosts CEO Pay To Over Half Million
Local e-commerce giant Kogan.com has boost its CEO’s pay to over half a million dollars in the last financial year – a figure independent to his sale of over $40 million shares.
As per The Australian, Co-Founder and CEO, Ruslan Kogan, received a short-term bonus of $87,068 (based on company performance), taking his total pay to $542,340 in fiscal year 2018.
It’s a jump compared to $470,615 last year, including a $64,498 bonus.
Co-Founder and CFO, David Shafer, reportedly received a total of $467,865, with a short-term bonus of $74,663 – up from $406,052 and $55,308 respectively last year.
As previously reported, in June this year Kogan and Shafer “reluctantly” offloaded 6 million shares for $42 million.
Kogan and Shafer claim to have accepted an “unsolicited bid” due to “personal financial commitments”. The deal saw the transfer of around 6.5% of the company.
In September, the parties confirmed the sale of “approximately” $40 million shares – news which sent the company’s shares diving 8.68% to $6.42 shortly after market open.
Both Shafer and Kogan assert they have no intention of selling additional securities before Kogan.com’s 1HFY19 results release.
The e-commerce giant has today released its annual report, highlighting a 45.3% YoY “active customer” base increase to 1,388,000.
As previously reported, Kogan.com post a whopping 277.3% full-year net profit [after tax] increase of $14.1 million, up from $3.7 million last year.
For the year to June 30th, revenues climbed 42.4% to $412.3 million, beating its former guidance for a 40% lift. The results follow $289.5 million booked last year.
Full-year EBITDA notched $26 million – up from $16.5 million in FY17 – with EBITDA margin tipping 6.3%. Gross margin jumped 8.9% year-on-year to 19.5%.