Frank Lowy's remuneration was $14.9m in 2009 as the executive chairman of Westfield Group presided over a $458m reported loss due to property writedowns.
Lowy received 7.9% less than the $16.2m he had in 2008, according to the shopping centre operator's 2009 annual report released today.
His base salary was unchanged at $8m, but his cash bonus fell to $5.95m from $7.0m in the prior year.
Lowy's non-monetary benefits comprised private usage of the group's aircraft, amounting to $890,000.
The Age
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