GK'S background - he got his LLB when he was 26 in 1963 (no big deal) and worked in and then managed law firms until he was 50 in 1991 - that was 26 years ago, have to make a living somehow
And you're right, he's experienced in being a Company Director ...
But you say "I really don’t understand how people say it’s a good salary. For the position he’s in, with the trained background he has and the responsibilities he has." Ignore the LLB - they're a dime a dozen. What responsibilities has he had in the past 4 years? Engaging consultants and research personnel? Flying to Guyana for press interviews lol. Now I appreciate we've saved on getting our contracts drawn up because he has the legal eye to look over those. Shame he didn't perhaps apply his skills to the rules relating pertaining to advanced findings with R & D - but what else has his experience actually provided to us as shareholders?
Anyway, so, we've had this rinse and repeat cycle since 2014 at least where we've been
busy identifying potential markets and working towards completion of feasibility studies to enable the Group to consider a pilot plant in Victoria.
You say last years report had him on 60k. Actually, in 2017 with his combined directorships in Astron and GPP he was on a $187,589 cash salary.
But this is the remuneration of the directors and key management personnel from 2014-2017:
2014 - $299,081
2015 - $241,808
2016 - $259,808
2017 - $215,166
Total cash salaries over the period = $1,015,863-
But don't forget the value of the options they've awarded themselves too -
2016 - $109,108
2017 - $356,509
Total Options value = $465,617
Just short of 1.5 million to progress the project to
busy identifying potential markets and working towards completion of feasibility studies to enable the Group to consider a pilot plant in Victoria. (oh and digging some trenches just recently).
Yes you're right, we've been getting value for money out of this team - I should be grateful for how cheaply we've got them for in relation to the progress they've made for shareholders - I apologise for being so cynical.
@timmi, imo they've been incapable of managing one project but the problem is I think
we need Guyana ! ... this is from 4 July 2016
(20min delay)