Sotheby's chief gets US$20m pay package in first year at helm

New York

SOTHEBY'S chief executive officer Tad Smith received a pay package worth US$20 million in 2015, his first year leading the company.

Mr Smith, who started on March 31, 2015, received a salary of US$1.06 million, a sign-on bonus of US$1.1 million and a stock award valued at US$16.5 million, according to a filing with the US Securities and Exchange Commission on Thursday. He also accepted a US$1.4 million stock award in place of an annual bonus.