BRAMBLES INDUSTRIES CHIEF WILL NOT BE ASKED TO RETURN BONUS.

SYDNEY, Dec 2 Asia Pulse - Brambles Industries Ltd (ASX:BIL) chairman Don Argus said today he would not ask chief executive Sir CK Chow to return his A$540,000 (US$302,670) cash bonus from 2001/02.

Mr Argus also today reiterated concerns Sir CK could quit the global logistics company, after a fiery reception at its annual general meeting last week.

At the AGM Mr Argus was forced to defend Sir CK's bonus, as shareholders repeatedly called on the chief executive to return the performance reward - and to resign.

The AGM was held four days after Brambles delivered its third profit warning in a year, and flagged an unforeseen A$238 million (US$133.4 million) in restructuring costs over two and half years.

Mr Argus told the meeting Sir CK's A$540,000 (US$302,670) bonus, which came on top of a A$2.56 million (US$1.43 million) salary, represented only 30 per cent of Sir CK's potential performance awards for the year.

"One of the biggest disasters we could have at the moment (would be) if we lost the calibre of CK Chow and (chief financial officer) David Turner out of the organisation," Mr Argus told the Nine Network's Business Sunday program today.

"I certainly won't be asking (them) to give back their bonuses.