After missing out on the top job at National Australia Bank, Craig Drummond, the incoming boss of Medibank Private, is set to receive a handy pay rise, even as the company grapples with mounting pressure to cut its own costs and rein in rising charges from health care providers. Medibank Private announced Mr Drummond would take up the role on July 4, replacing outgoing chief executive George Savvides. Mr Savvides took home $2 million in the year to June 2015, with a base salary of $1 million topped up by $303,000 of short-term incentives, $602,147 of performance rights, and other sundry entitlements.
