Former AFL boss Gillon McLachlan has received another multimillion-dollar options package from Tabcorp barely a year after shareholders waved through a deal that has gifted him stock now worth more than $17 million and led to some raising concerns about the “outlandish payouts”.
The payout for McLachlan, who is barely a year into his stint at Tabcorp, had raised the ire of the Australian Shareholders Association (ASA) with the investor advocacy group voting against the latest options plan.
However, despite the ASA’s concerns, Tabcorp shareholders overwhelmingly backed the new options package for McLachlan at the company’s annual general meeting on Monday, as the company also defended McLachlan’s pay.
McLachlan received 30 million options last year, with a strike price of 47¢, that will