I began my career at a time when the CEO of Qantas earned less than the Chief Pilot. No longer. Yes I agree it is a large sum. But in my view over the last few years WP could have been out earning more elsewhere. The only question is (two questions) "Would you want to lose him?" and "How much would you pay to keep him?" From what I have been told he was instrumental in the design of our product, and if that is so he deserves compensation. CEOs are paid not so much for what they are worth, but what they are worth to someone else, or how much damage they could do if they went out on their own (perhaps not so applicable here). In twelve months, if we haven't seen stratospheric progress, I might then become a critic. But not yet.
AVR Price at posting:
$21.90 Sentiment: Buy Disclosure: Held
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