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Ruslan Kogan Gives Himself $8.4m Pay Rise, Triggers Protest Vote

Ruslan Kogan may have built a $960 million business that sports his own name, but his decision to give himself a $8.4 million pay rise was met with scorn by his own shareholders.

After the boost, Kogan is now paid $9 million a year, seeing him climb up AFR’s list of Australia’s 50 highest-paid CEOs to hit sixth place.

The pay rise also triggered a 42 per cent protest vote and a second strike at yesterday’s shareholder meeting.

As AFR reports, Chairman Greg Ridder said he was “delighted” if Kogan was “well rewarded” as it also meant “shareholders will be well remunerated”.

This has not been the case.

In late January, Kogan shares traded at $21.67; they have since dropped to $8.55, where they sat at the close of trade yesterday.

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