NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business / Personal Finance

Stock Takes: US listing for LanzaTech? ANZ CEOs bumper pay and half year results season

Tamsyn Parker
By Tamsyn Parker
Business Editor·NZ Herald·
4 Nov, 2021 04:00 PM7 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

    Reminder, this is a Premium article and requires a subscription to read.

ANZ New Zealand chief executive Antonia Watson. Photo / Supplied

ANZ New Zealand chief executive Antonia Watson. Photo / Supplied

With annual report season in full swing for the big banks, shareholders can eyeball exactly how much their top executives are being paid.

Of course, figuring out which figure is the right one is always difficult given the multiple ways its can be reported: earned remuneration versus what the executives were actually paid in any given year.

Stock Takes likes to rely on the statutory remuneration figures as these have to follow the Australian accounting standards, even though some payments aren't included in this.

ANZ's annual report shows New Zealand chief executive Antonia Watson had a big jump in her pay packet in the last year.

Advertisement
Advertise with NZME.

Her remuneration hit $2.54 million (A$2.44m) in the year to September 30, up from $1.87m (A$1.79m) in the 2020 full year.

Watson's base salary rose from A$975,974 to A$1,042,346 while her cash incentive virtually doubled from A$334,681 to A$687,167. But it was the value of her shares, share rights and performance rights that all got a substantial boost over the year.

Former Prime Minister Sir John Key also earned a tidy salary from his role as board chair of the New Zealand bank and a non-executive director on the ASX-listed parent.

He received A$301,000 ($313,185) for sitting on the Aussie board plus another $391,000 for chairing the NZ board, adding up to just shy of $705,000 in total.

Advertisement
Advertise with NZME.
Former Westpac New Zealand chief executive David McLean retired on June 25. Photo / File
Former Westpac New Zealand chief executive David McLean retired on June 25. Photo / File

Departing Westpac New Zealand chief executive David McLean also received a substantial boost to his pay packet on retirement this year.

McLean officially retired on June 25. For the year to September 2021, his total remuneration was A$2.99m or $3.11m. That compares to the prior year when it was A$1.59m or $1.66m.

Discover more

Retail

Ex-All White Tim Brown a $650m man as Allbirds shares double on Nasdaq debut

03 Nov 05:47 PM

Notes to the accounts show McLean also stayed on in an advisory capacity until July 31 for which he was paid an extra A$97,249.

LanzaTech Listing?

Another Kiwi-founded company could be set to list on the US sharemarket.

Sir Stephen Tindall, whose investment company K1W1 owns about 5 per cent of carbon recycling company LanzaTech, reckons it could go public within two to three years.

"It is going to be a bit like Rocket Lab which we are in, which has just floated on the Nasdaq - I would think within the next two or three years it will go public in the states."

LanzaTech began in New Zealand in 2005 and uses microbial technology that converts industrial pollution into fuel.

Following a successful trial creating ethanol at New Zealand's Glenbrook steel mill in 2008, LanzaTech demonstrated the technology using live emissions from a steel mill in China in 2008.

It shifted its head office to Chicago in 2014.

Advertisement
Advertise with NZME.

Tindall, who was the first commercial investor to buy shares in the company when it started out in Auckland's Devonport, says it has attracted $750m in capital from all over the world including some of the heaviest of hitters.

"The value of the company now would be about $1.5 billion - if we sold our shares we would get a massive return. But we are in there to keep supporting them."

But Tindall said K1W1 would weigh up whether to sell its shares in the future if the company listed.

"Then we can say, well, do they need our money any more or could we put that to better use for more things onshore in New Zealand and liquidate that asset.

"We are looking at that sort of thing all the time."

Tindall is not the only Kiwi with strong interests in the company.

The New Zealand Superannuation Fund owns about 16.6 per cent of LanzaTech, which means it too would cash up a fair amount if it sold out of the company.

Its largest shareholders are overseas-based, with investors from the US, China and Denmark featuring in the top three.

Coming up

The New Zealand sharemarket is heading into the half-year reporting season for those companies with a March 31 full-year balance date, which could give some indication of how well they have coped under the latest lockdown.

Digital church donation business Pushpay is expected to report next Wednesday, followed by Mainfreight and Infratil.

Other big stocks like Kiwi Income Property, Ryman Healthcare and Fisher & Paykel Healthcare will follow the week after.

Mainfreight is due to report its half year result next Wednesday. Photo / File
Mainfreight is due to report its half year result next Wednesday. Photo / File

Adrian Allbon, Jarden's director of equity research, said Mainfreight had already given a trading update which indicated a strong result but he would be looking closely at the outlook for guidance on future demand.

"Are they seeing any pull forward of consumer demand in categories which are more suited to Mainfreight starting to ease with reopening activities, like people thinking about travel as opposed to durable spend?"

Allbon said Mainfreight had made market share gains because of supply chain congestion and its higher service offerings.

But he would be looking at how permanent those gains were likely to be.

Allbon said Mainfreight had also been lending its warehousing services to retailers to help them manage supply chain issues.

"Those sort of dynamics, on a longer term view, how permanent is that? Is it a normal feature or more of a cyclical feature given the state of the world at the moment?"

Mall update

Allbon said there were really two features he was looking for in Kiwi Property's result - the magnitude of rent relief that it has provided to tenants in key malls, particularly in Auckland, and an update on the sale of some of its secondary malls in Palmerston North and Christchurch.

Kiwi Property owns Sylvia Park and LynnMall in Auckland as well as Centre Place and a 50 per cent stake in The Base in Hamilton.

"Those are the more strategic elements to update on."

Kiwi Property will be gearing up for the likely reopening of retail in Auckland next Wednesday, should the government proceed with moving the city into alert level 3, step 2.

Allbon said the experience in Australia pointed to a strong rebound in shopping post-lockdowns.

But he said based on the views of Jarden economist John Carran, the bounceback would not be as strong as what happened after last year's level four lockdown.

"His thinking is, most people are shifting to an endemic mindset. Yes, there will be the relief of being able to access a physical store ... but after that things will be more circumspect relative to the very strong rebound we had last time around."

But he said the reality was that no one really knew.

Mixed bag

Allbon said he was looking for an update from Infratil on how it would use the proceeds of the recent sale of its stake in Tilt.

"There might be a slim chance shareholders get rewarded by that with the prospect of a special dividend."

Infratil will benefit from Vodafone earning roaming fees when travel restarts. Photo / File
Infratil will benefit from Vodafone earning roaming fees when travel restarts. Photo / File

But he said the real point of interest was how some of its big assets - Canberra Data Centres (CDC) and Vodafone - were valued after comparable listed businesses had suffered a downward rating lately.

"Spark has derated a bit on the rising interest rate theme. It's how people feel about that.

"But we do think on the earnings side it will be good momentum coming through from the likes of CDC."

Allbon said Infratil also offered investors some reopening leverage through the likes of its share in Wellington Airport, the return of roaming earning capacity through Vodafone and through its entry into radiology.

"There are lots of swings and roundabouts. Earnings momentum is fine, it is just how people feel about derating of core assets."

Save

    Share this article

    Reminder, this is a Premium article and requires a subscription to read.

Latest from Personal Finance

Interest rates

Another major bank cuts mortgage and deposit rates in NZ

08 Jun 11:21 PM
Premium
Tax

Why charity tax reform got kicked to touch

08 Jun 09:00 PM
Business|personal finance

Sharesies boss: Why Kiwis are better investors than we think

08 Jun 06:00 PM

Why Cambridge is the new home of future-focused design

sponsored
Advertisement
Advertise with NZME.

Latest from Personal Finance

Another major bank cuts mortgage and deposit rates in NZ

Another major bank cuts mortgage and deposit rates in NZ

08 Jun 11:21 PM

But it isn't matching other banks which are offering 4.89% over 18 months.

Premium
Why charity tax reform got kicked to touch

Why charity tax reform got kicked to touch

08 Jun 09:00 PM
Sharesies boss: Why Kiwis are better investors than we think

Sharesies boss: Why Kiwis are better investors than we think

08 Jun 06:00 PM
Trump, tariffs and world turmoil

Trump, tariffs and world turmoil

Clean water fuelling Pacific futures
sponsored

Clean water fuelling Pacific futures

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • What the Actual
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven CarGuide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP