Meridian's profits tumbled, but the man at the top got more than $800,000 in extra payments.
Former Meridian Energy chief executive Tim Lusk was paid $1.37 million, including more than $800,000 in bonuses, during his last six months with the state-owned power company.
Mr Lusk's pay during a period when Meridian's profits fell sharply was disclosed in its annual report, which also revealed the company's generous