Two things will never happen: 1. Wayne Loxton won't reduce his...

Two things will never happen:

1. Wayne Loxton won't reduce his salary or short term incentives. Even if he does take a back seat, he will happily continue to ride the gravy train.
2. The remuneration report won't get voted down by shareholders. HotCopper is full of shareholders who are vocal about excessive payments to directors and executives, but come AGM time it never makes a difference when voting for the remuneration report. I presume large shareholders are always onboard with voting in favour, so retail shareholders have no chance of affecting the outcome.

It is not right that directors and executives are drawing excessive salary packages on companies that are not yet cash flow positive. I have always been a firm believer that salary packages should be tied to profit. Which means putting in the hard yards for years of expansion/development before being handsomely rewarded. A reasonable salary should be provided to compensate for hard work during the developing years, but larger salaries and incentives should not kick in until the company is turning significant profit.

If that doesn't seem reasonable to directors and executives, then it is a sign to me that they don't have the pedigree to work hard over a long period to be rewarded. It is a signal that they are in the business for a short term kill and don't have their own success aligned with the success of their shareholders (we who own the company).