Published April 8, 2009

Ex-CEO earned $1.25-1.5m last year

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M1's former CEO Neil Montefiore drew a pay cheque of between $1.25 million and $1.5 million last year, a range which remains unchanged from 2007.

His fixed pay accounted for 37 per cent of this salary package while bonuses made up another 37 per cent, according to M1's latest annual report.

Retirement and CPF contributions amounted to 8 per cent of Mr Montefiore's pay, while the remaining 18 per cent were 'benefits in kind', M1 said.

His exact pay is undisclosed as Singapore-listed companies are only mandated to reveal their executives' pay in bands of $250,000.

Mr Montefiore, who left the company in February and is now in the telecommunications consulting line, was also awarded 940,000 share options last year, the same as 2007.

M1's net profit for 2008 fell 12.6 per cent from a year earlier to $150.1 million, dragged down in part by the intense marketing war resulting from the introduction of mobile number portability last year.

The company is set to release its first-quarter results on April 16.