Myer boss Richard Umbers has received a $1.7 million pay package, down slightly from the $1.9 million awarded the previous year.
Mr Umbers earnt a base salary of $1.2 million in the year to July 29, bringing his take home cheque to $1.4 million, excluding share based payments, Myer's annual report shows.
The retailer has maintained its short-term incentives model - that no awards are paid unless a minimum net profit is achieved - but has altered its long-term incentives plan to one that "reflects the ongoing nature of our business evolution".
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