Price of Iron Ore, page-1554

Well I have to say i agree if the pay is now 600,000aud per year. This salary needs to be frozen for a few years. I am not against performance rights but they numbers should be much lower say hundreds of thousands of shares not in the millions.

My old man was the director of a business with a revenue of 5 to 10million and it would have cost 150,000 to 170,000 aud to get someone in to manage it all.

That was 20 years ago.

With inflation that would make it around 300,000aud. For a company with a yearly revenue of about 10 to 20million aud.

Fenix is a 220 million revenue business.
If you want to save money on admin but then want more directors? So we would need to pay another 200,000 to 400,000aud per year at least.

So i do not see 600,00 aud as unreasonable.
many ceos of large businesses are getting now like 10 million aud salaries.

I would say however that some of the salaries should vary with company profitablity. So it profits are marginal then say his salary will drop to 400,000aud. On the other hand a good performance should bring it back up.

And at the end of the day shareholders can vote to reject the salaries on a yearly basis.