Home > Industry > Kogan Boosts CEO Pay To Over Half Million

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 AustralianCo-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%.


You may also like
JB Hi-Fi’s Richard Murray Talks Shares, New CEO, Supply & Future For Retailer
Breaking: Biag Capasso Named MD Of The Good Guys
Smart Bulbs Driving SmartHouse Growth Claims Laser Corporation As Dogs Chew Up Pet Tech
Premier Investments To Pay Back JobKeeper After Richard Murray Appointment
Acer Australia Delivers Record Revenues During COVID-19 Despite Major Supply Restrictions