Criticize all you like. I haven’t seen any other boards take a pay cut when the going was tough.
Colesworth when Aldi came in, competition and discounting was intense and share prices took a massive beating? Nah.
Qantas executives when oil price was high and debt was through the roof? Nah.
BHP, Rio and big mining when prices were in the doldrums? Nah.
Big banks during GFC and Royal Commission? Nah.
Telstra, TPG and Vocus when NBN was eating into their pie and taking profits away? Nah no way - no salary cuts, no pay cuts. At best they were giving up bonuses but never have I seen any boards say “OK, take away my bonuses AND even my fixed component which is my monthly salary”.
Exemplary management. Look forward to accumulating at these levels, had a hook in yesterday and got $7.01 which I was quite stoked with. Looking for more.
WEB Price at posting:
$7.30 Sentiment: Buy Disclosure: Held
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