Demoted AMP exec paid $1m bonus for 53 days’ work

Demoted AMP Ltd (ASX: AMP) executive Boe Pahari was paid close to a $1 million bonus for running AMP Capital for all of 53 days.

The disclosure was made Wednesday in the company’s annual report.

The report stated Pahari was a beneficiary of the AMP Capital Enterprise Profit Share (EPS) plan for his role as global head of infrastructure equity and the northwest region.

“The prorated amount of the EPS award was $937,724 for the time during which he was the chief executive, AMP Capital.”

Why was Pahari only in the position for 53 days?

Pahari was promoted to AMP Capital chief on 1 July last year.

But in August explosive details of sexual harassment allegations made against him were publicly revealed.

This included Pahari sending…