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09:35
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Originally posted by muppet655
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Concise and hard to disagree with, I’m really beginning to question what value the board have provided in the past year or more. The remuneration of executives is highly disproportionate to AJX size, revenue and profitability particularly wrt to our chairman - his address last year and the paper thin justification for past remuneration is looking embarrassing at this stage - the new package is equally unjustifiable. There are independent reports available to those looking outlining what executives in ASX300 companies and larger are typically paid and as even an executive chair GR would be in the upper quartiles, does that seem right? Salary is one component how confident are we that other benefits/expenses are fully taken into account? What value are the other board members really bringing, where is the sector and business expertise and track record needed to drive this stage of the company? Indeed, where are the Australian directors as required by law? They’ve had months to find them.
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To clarify - I’m sincerely hoping (and optimistic) that the current operations team are the real value in the company. Dirk, Bob, Aaron all seem switched on and running Greer ops as best as possible. It’s the Board that seem misaligned with what the company actually need and up until June 30th too conflicted to provide the right managerial and governance mix - not sure there’s been as much progress as hoped there all in all.
