I don't think either. A boss of mine had a saying "the commerce...

I don't think either. A boss of mine had a saying "the commerce will take care of itself" and that's what tends to happen on remuneration and most negotiations for that matter. If I'm honest, I don't really care what happened as the conversation was in the boardroom 5 years ago with NEDs that have now been moved on. Naturally and as any board would do, they structured something for Paul that at the time they thought would motivate and align him. I'm talking about Ando's famous market cap/bonus/salary increase and will add my ears are bleeding. As it turned out, a few of those board members were 'green-horns' and incredibly naïve about what was involved in this project and the time it would take to deliver. They are now gone.

Am I frustrated with the time its taken to get to here - indeed. Does it bother me if Paul is earning $150k more or $150k less than what a peer is - not really. What does concern me is the amount of $ that listed companies piss up against the wall on professional service firms due to onerous compliance and governance requirements so a well paid MD is the least of my concerns and to focus so much of your energy on it is really getting yourself in the weeds and extremely counterproductive.