Pay row set to snare Brambles boss

REVELATIONS of a pay rise and a hefty performance bonus for the chief executive of Brambles Industries are fuelling shareholder anger ahead of the logistic company's annual general meeting.

Sir CK Chow received an 8% pay rise to A$2.276m (£880,000) while earning A$227,000 in bonuses, A$201,000 in relocation expenses and A$892,000 in 'equity-based awards', the company's annual report shows.

Brambles' profits slumped 39% in the year to June. Over the past year, A$5bn has been wiped from its market value.

Shareholders in the Anglo-Australian company will have an opportunity to vent their anger at annual general meetings in London and Sydney on 18 November. They have been calling for management to show salary restraint.

Chow took charge of the company - ormed from the merger of GKN and Brambles - in August 2001. The shares have fallen by 60% since then.