To call it 'false info' is a massive stretch. Fairfax called them 'directors fees' when they should've been 'directors fees and consultancy fees'. What's the difference?
If we look at just Dykes' remuneration but ignore the other directors:
CHP salary/bonus calendar year 2016: $514,500
CMY director fees ($30k p/m), lets say: $360,000
Total $874,500
I'll ignore his share of other costs, including travel expenses.
Obviously the remuneration is part time for each company as he can't be in two places at once. Lets say he works 40 hours per week for 48 weeks of the year (ie 1,920 hours), that equates to around $455 per hour.
I realise some executives are paid much more than that but keeping in mind that for calendar year 2016, CHP and CMY share price fell 60% and 92% respectively.
I'll let you be the judge of whether he's worth that. Of course, my figures are rough and he may work more than 40 hours per week. Who knows. What isn't negotiable is the performance of these two stocks over that time.
Do you think he deserved a $200,000 bonus and that Fairfax have defamed him?
