Directors took a 15% drop in salary earlier this year, and now no bonuses to managers whilst the company is in troubled waters.
There are little alternatives for the top managers and they know they are lucky to have jobs.
Hopefully come next year the situation will be reversed with profits and bonuses are paid. This not awarding bonuses this year makes perfect common sense, and Harry should be applauded. He is acting in all parties best interest.
It is the emerging markets where profits will be made, not the established western markets. Also the outlook for industrial packaging and visual signage looks strong, but it is still a bumpy road ahead.
I just hope the AUD collapses to say 95 cent to US.
BTW ... Price knows he is in good company, and he will be very content learning and seeing how both the international players work and the new company course is set in motion. I just hope he gets amongst it. A bit of rollup your sleeves and genuine work is needed from .. Price. PaperlinX have given you an opportunity so make it count.
SRS Price at posting:
6.1¢ Sentiment: None Disclosure: Held
