Medibank Private sale could boost executives' pay by millions

Senior executives at Medibank Private are set to be the big winners if the insurance company is sold off, an expert says.

Corporate governance analyst Martin Lawrence says after the planned share float announced by the Federal Government this week, the company's top earners could see their salaries triple.

The company's managing director George Savvides is paid $1.2 million, and Mr Lawrence says that could balloon to $5 million after the sale.

He says the salaries of Medibank group executives Dr Andrew Wilson and Dr Matthew Cullen could rise from $1.85 million to $3.2 million.

But the union representing Medibank workers fears such salary hikes will lead to big job losses.

more: Medibank Private sale could boost executives' pay by millions

Senior executives at Medibank Private are set to be the big winners if the insurance company is sold off, an expert says.

Corporate governance analyst Martin Lawrence says after the planned share float announced by the Federal Government this week, the company's top earners could see their salaries triple.

The company's managing director George Savvides is paid $1.2 million, and Mr Lawrence says that could balloon to $5 million after the sale.

He says the salaries of Medibank group executives Dr Andrew Wilson and Dr Matthew Cullen could rise from $1.85 million to $3.2 million.

But the union representing Medibank workers fears such salary hikes will lead to big job losses.