Noble Group paid co-CEO US$20m even as company lost billions
It is more than the US$15 million that Noble has offered to pay holders of its perpetual bonds, which have a face value of US$400 million
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
London
NOBLE Group Ltd handed its outgoing co-chief executive officer, Jeff Frase, a remuneration package worth about US$20 million last year, even as the commodity trader slumped to a record loss of almost US$5 billion.
The scale of the award, reported in Noble's annual financial statements last week, is likely to provoke consternation as the embattled trading house attempts to secure agreement from its creditors and shareholders for a restructuring plan that would impose heavy losses.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
