Generation Development Group appoints Grant Hackett as CEO
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The news: ASX-listed investment company Generation Development Group has internally appointed former Olympic swimmer Grant Hackett as its new chief executive and Rob Coombe as its executive chair.
The numbers: As CEO, Hackett will receive a fixed remuneration of $615,531 per year, plus superannuation, with a short-term incentive opportunity of up to 50% of his salary.
The fixed remuneration package is unchanged from Hackett's previous salary as CEO and managing director of GDG's subsidiary Generation Life.
Coombe will receive $250,000 per year, inclusive of superannuation, an increase of $62,500 from his current salary as non-executive chair. He will have the opportunity to earn a short-term incentive of up to 100% of his fixed remuneration.
The context: Hackett and Coombe have worked at GDG together for seven years. Hackett has led Generation Life since February 2020 and will be replaced by current general manager for distribution and marketing Felipe Araujo.
Coombe has been GDG's chair since July 2017. He will become executive chair to work more closely with Hackett on key strategic initiatives for the group over the next one to two years.
The source: ASX announcement
