Central Petroleum CEO Takes Pay Cut

Central Petroleum Limited (AU:CTP) has released an update.

Central Petroleum Limited has announced a reduction in the total fixed remuneration for their Managing Director and CEO, Mr Leon Devaney, following an independent review. The adjustment from $681,849 to $595,000 aligns with market standards and will not affect the current terms of his employment agreement apart from the agreed remuneration changes. Central is the largest onshore gas operator in the Northern Territory, aiming to become a major domestic energy supplier.

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