What is reasonable CEO remuneration?, page-48

I think this statement says it all about the blind slavish following that this CEO has. He has achieved very little over the years and you are singing his praises like he is the new messiah in a Monty Python movie. "Life of Ryan".

They dont, they are just claims, and very false ones at that. No has a clue what this guy does every day he is a law unto himself.

Because a snout in the trough feeds until it has had its fill. Here, the fill is $800K per annum. If you look at directors of shells like DDD and PVD, those guys are drawing around 80K per annum whilst in caretaker/shell mode. See the difference?

Because the clueless shareholders just couldnt be bothered questioning it when signing up to the original prospectus. A CEO asking that much has nothing but contempt for the principles of good stewardship of a company. Shareholders were so punch drunk on the whiff of a nickel bonanza they thought they were all going to be rich but only one person will be rich at the end of all this courtesy of shareholder's funds.

Good question, he put up his name in the prospectus and again no one questioned it until way further down the track. This company is a great example of what can happen if you dont do proper due diligence in the first place.