I'm not sure how the media treat it in Australia, but the issue of corporate pay is always a hot one here in the UK.
Personally, I'm happy with big salaries for guys that run massive corporations and listed companies as it takes great, skill, knowledge and experience to run it well.
And that's the rub - its fine as long as they run it WELL.
Our CEO has done a TERRIBLE job.
How do we ultimately measure the success of a CEO of a listed company? By looking at the market's response share price.
Let's take a look...
Share price - ROCK BOTTOM. Has only fallen since re-listing despite a raft of "publicity measures", broker trips to the mine (so we are told), and a LOM study.
Market reaction - wouldn't touch this company with a long pole.
Trading volumes - flat on their back.
Broker sentiment - they laugh at this company.
This company cannot even recruit new board members because of how badly it is run!
THE CEO IS TO BLAME. It is his job to accept the blame when things go wrong.
HE IS PAID $400K+ - which, in my opinion, is fine if he did a good job. He does NOT, and he should RESIGN, or be REMOVED FROM HIS POST.
IMMEDIATELY
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