Monday, 24 August 2020 09:20

Leaving underwear for milk

Written by  Milking It

OPINION: David Bortolussi is jumping out of underwear and into A2 Milk and he bags a $5.5 million compensation package along the way.

Bortolussi has been appointed as managing director and chief executive of A2 and will be based in Sydney, he is expected to start in the role in February next year.

Bortolussi is leaving his job as group president international innerwear at Hanes Brands. On top of a salary of A$1.75m, he will get nearly A$5m of “transitional benefits”, as compensation for forfeiting entitlements in his current role.

Nearly A$1.3m will be paid in cash when Bortolussi commences the role, while another A$3.7m will be given in shares. Half will be paid on his first anniversary in the job and the other half after his second anniversary.

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