Marius Kloppers.
Marius Kloppers. Torsten Blackwood

Kloppers receives a $75.2m golden handshake

THE Construction Forestry, Mining and Energy Union has attacked BHP Billiton after its recently resigned chief executive, Marius Kloppers, received a golden handshake to the value of $75.2 million.

The Board of BHP Billiton revealed this week that Mr Kloppers would officially retire on May 10.

A CFMEU spokesman said Mr Klopper's would be remembered for the controversy that occurred while he was in charge.

"Some of these greatest hits include: overseeing a massive expansion in damaging FIFO work practices, presiding over a costly and unnecessary 22-month dispute with BMA employees, closing mines and refusing to ever meet a trade union official - the legitimate representative of mineworkers," the spokesman said.

However, BHP Billiton Chairman Jac Nasser said Mr Kloppers had made an outstanding contribution to the company.

"Despite an exceptionally difficult economic environment during his tenure, Marius and his team have delivered for shareholders, significantly outperforming our peers in terms of total shareholder returns," Mr Nasser said.

"He drove new investments into next generation opportunities including US onshore gas and liquids and created one of the most valuable companies in the world."

The same day it was announced Mr Kloppers would retire, BHP announced a 58 per cent fall  in net profit for the half year ending 31 December 2012 to $US4.24 billion.


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