Accounting software firm Xero’s $3.9 billion acquisition of US bill-pay platform Melio Payments has weighed on the company’s profits, while chief executive Sukhinder Singh Cassidy’s take-home pay was hit by the company’s falling share price.
Singh Cassidy was set to become one of the highest-paid chief executives on the ASX, with a $23.3 million package mostly made up of share-based incentives. However, she took home just $NZ7.5 million ($6.1 million) last year, according to Xero’s annual report, because many of her options were underwater at the reporting date.
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