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BHP BILLITON'S NEW CEO REAPS US$3.5 MLN IN 2002/03.
MELBOURNE, Oct 1 Asia Pulse - BHP Billiton's (ASX:BHP) new chief executive, Chip Goodyear, received a remuneration package of more than $US3.5 million in 2002/03 as the world's largest diversified miner predicted an improved outlook ahead.
Writing in the group's 2003 annual report, BHP Billiton chairman Don Argus said the world economy appeared to have turned a corner despite continued excess of capacity and subdued demand.
Mr Argus said pricing, too, remained competitive.
"On balance (the global economy) appears to have turned the corner and, although the outlook remains fragile, a number of positive developments are supporting an improved outlook for 2004," he said.
These included reduced interest rates in the United States and Europe and moves by Japan to create a more positive economic environment.
Mr Argus said equity markets improved as China continued to "provide a bulwark for commodity markets".
Meanwhile Mr Goodyear said the group aimed to continue increasing the company's return on capital in years ahead.
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