US-based firms claim top spots in ASX remuneration ranking: ACSI

The chief executives of US-based companies are increasingly taking over the ranks of the highest-paid ASX bosses, as for the first time in the study's history, 50% claimed the top 10 spots in the Australian Council of Superannuation Investors' (ACSI) annual pay study.

The CEO Pay in ASX200 Companies report highlights the growing influence of US-domiciled companies listed on the Australian share market.

American Chris Hulls, the chief executive of GPS tracking app Life360, topped the rankings with realised pay of $47.7 million in the 2025 financial year. Hulls stepped down as chief executive in August 2025.

He was followed by American-born ResMed chief executive Mick Farrell on $35.2 million and News Corporation's Australian chief executive Robert Thomson on $33.6 million.

As US-based executives dominated the upper end of the pay table, the study found remuneration levels among Australia's largest companies remain comparatively restrained.

The median realised pay for ASX100 chief executives rose 4% in FY25 to $1.83 million - but remains below the record median of $1.95 million recorded in 2012.

"The focus of Australian investors and boards has meant that ASX CEO pay levels have generally avoided the runaway increases we've seen elsewhere," ACSI chief executive Louise Davidson said.

"It also means that where CEOs appear in the highest paid list, their companies will generally have delivered strong performance over the long term, although there can be notable exceptions."

The highest-paid Australian-based chief executive in the ASX200 was Sigma Healthcare chief executive Vikesh Ramsunder, who entered the top 20 for the first time following Sigma's merger with Chemist Warehouse.

Macquarie Group chief executive Shemara Wikramanayake came in fifth with $30.4 million.

Seven Australian company chiefs featured among the top 20 highest paid for a third consecutive year.

ACSI's research also found bonus outcomes remain resilient. The median ASX100 chief executive received 70.7% of their maximum bonus opportunity in FY25.

Aside from the pandemic-affected FY20 period, median bonus outcomes have remained between 60% and 77% of maximum levels for the past 11 years.

ACSI executive manager of stewardship Ed John said investors should remain alert to remuneration trends.

"Investors cannot become complacent, with clear evidence that CEO bonuses continue to be a 'given' in Australia's largest companies," he said.

"This year investors will need to remain vigilant to ensure that we do not see the inflation in CEO salaries or a pay breakout that we see in markets like the US."

As for golden parachutes, termination payments for ASX100 chiefs cost shareholders $18.6 million in the last financial year, driven by more and higher payments.

The increase in average payments from roughly $1.4 million to $2.2 million was largely due to FY25's single large payment of $5.88 million to former Rio Tinto chief executive Jakob Stausholm.