Business
Value of Westfield malls plunges 10pc as pandemic takes toll – Sydney Morning Herald
Despite the hit, Scentre Group said chief executive Peter Allen would go back to full pay after a temporary cut during the pandemic.
“The board has reviewed these arrangements and has determined that board fees and fixed remuneration for the executive team will revert to their previous levels, effective from 1 August 2020,” Scentre said.
Mr Allens remuneration last year was $7.5 million.
The steep decline in the value of Westfields malls mirrors its rival Vicinity Centres, the country’s second-largest shopping centre landlord, which saw $1.79 billion wiped off its extensive portfolio from COVID-19.
Vicinity, the co-owner o…
-
Noosa News17 hours agoHockey coach in Arana Hills charged with grooming and sexual offences against teenage girls
-
General17 hours agoWoman killed and man injured in shark attack on NSW Mid North Coast
-
Noosa News17 hours agoDepartment of Transport and Main Roads orders shutdown of North Ipswich Free Shop
-
Noosa News20 hours agoFlawed government agreement opened door for unlawful site access