Sheryl K. Pressler will receive A$15 million (US$7.6 million) in compensation and other payments from Lend Lease Corp. following her departure after only one year as CEO of its Lend Lease Real Estate Investments unit. That amounts to 10% of the companys A$151.4 million in net profit for the year, ended June 30.
The company disclosed the payments for the first time in its latest annual report, which is en route to shareholders, a Lend Lease spokeswoman in New York said. She declined to comment further.
Ms. Pressler left Lend Lease in March; she had been hired in March 2000. Ms. Pressler was chief investment officer of the California Public Employees Retirement System, Sacramento, for six years, starting in 1994.