I vigorously oppose remuneration packages (especially options) where executives are lavishly paid for poor or moderate performance. But this does not apply to Macquarie. What a success story for both shareholders and the whole Australian economy! It is for the company to decide how to pay executives and there are mechanisms for oversighting executive remuneration. Shareholders can express their opinions at the AGM or sell their shares if they are unhappy. As a shareholder I support the Macquarie board for the value they have created over the years. It is not the business of jealous outsiders to whine about remuneration with comparisons to other workers. If good child-care workers, teachers or Prime Ministers are underpaid, the solution is to pay them more – not to pay creative and successful executives less.
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