Ann: FY20 Results Presentation, page-17

I've rarely voiced criticism but I have to agree that given the current revenue, a voluntary salary cut (25%, and not just paying it out later or in shares/options) until profits are being made would be a good and necessary signal to the market. Directors need to show the market now that they are committed to the success of the company and put company interests above their own interests. I'm starting to lose patience. CDY is one of two loss-making investments in my portfolio. I only have two loss-makers so I'm somewhat covered. But having lost 60% in value despite doubling down at occasions, while directors are constantly cashing in, is not appropriate.

“There are a number of companies that will have financial results that will qualify them for bonuses. I suspect that for those companies that are paying bonuses this year in terms of investors, it will be more important than ever to have really clear communication of what was done to earn those bonus amounts. I think any lack of clarity will be latched upon by investors and proxy advisors,” he told the AICD during an interview.
https://aicd.companydirectors.com.au/resources/covid-19/should-your-ceo-directors-take-a-pay-cut

I've supported the board of directors for the longest time. But I want to see a justification for their unchanged remuneration. The current financial results are not one. You can't tell the market they're affected by Covid but not act. It doesn't matter that revenue is up if the company doesn't get away from loss territory quick enough.