Executives

A 57-year-old former senior executive at Woolworths (WOW) has been charged for taking $3.7 million worth of kickbacks from awarding $37 million contracts a decade ago. A spokesperson from Woolworths said that the fraud charges were related to the retailer's MIS division (management information systems) before 1999. The former executive spent 9 years at WOW. The investigations, code-named Strike Force Whittlesford, have been following the worldwide money trait since 1999.

Macquarie Bank CEO Alan Moss will leave the Bank in May after 15 years in the top executive position. Mr Moss turns 60 this year. It is likely that Alan Moss could receive between $36 million to $38 million this year before retiring. He is also a significant individual shareholder in Macquarie with a stake worth $25 million at today's prices. Mr Moss will be replaced by the head of Macquarie's investment banking division, Nicholas Moore, whose salary and bonuses came in just below that of his soon-to-be predecessor, at $32.89 million.