October 10, 2018 / 5:50 AM / 9 months ago

CBA says results of plan to fix governance to affect executive pay

FILE PHOTO: The logo for the Commonwealth Bank of Australia adorns their head office in central Sydney, Australia, October 12, 2017. REUTERS/David Gray

(Reuters) - Commonwealth Bank of Australia (CBA.AX) said on Wednesday senior executives would have 20 to 30 percent of their “performance metrics” this financial year tied to the execution of a plan to fix problems for customers that were highlighted by the financial regulator.

The plan was designed to comply with recommendations of an inquiry by the Australian Prudential Regulation Authority released in May, that was aimed at changes in governance, culture and accountability.

Reporting by Rushil Dutta in Bengaluru; Editing by Edwina Gibbs

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