Salary numbers themselves aren't the issue. Its the fact that in OBJ's history of operations, no one has remotely lived up to the performance expectations of those numbers, yet they ask for more, and worse still they ask unconditionally.
I can understand new CEO coming in and saying " I expect 1.x Million, I'm worth it".. fine.. But they have to prove their worth, and stake themselves on it .... If its 1 year in, and they have achieved no better someone who could have achieved the same for 50k, then they should be out on their ass, pronto ,.. with the garbage.... not the recycling.. the garbage.
That's where we are at with OBJ. Year in & year out, the cult of OBJ followers keep singing blind faith songs to the BOD who haven't been able to justify their worth. All they have done is prove that the BOD are NOT worth their salaries and have no fear in continuing to be mediocre.
Yet they keep saying " I believe, I have faith .... I believe, I have faith ... . I believe, I have faith "..Well good for you, good for your faith, and good for your belief, but here in the real world the company is getting SMASHED by the market, both in credibility, and financial loss. Faith and Belief is the currency of the deluded here.Wake up to the fact OBJ is on a slow slide to hell's delisting basket, and without a serious re-thinking approach to to its operations, its going to end badly.
Right now the BOD are vastly overpaid, they all vastly under perform, and none of them are incentivised nor penalised for results.
All BOD members should be conditionally appointed, and remunerated in a performance perspective. I know your going to say "Duh - They all own shares!!," that's true.. but also very clearly true is that they don't give a toss about those shares, and its no incentive for them to get things going with OBJ.
Instead there is a myriad of ways the board should be held accountable. There salary should be similar to that of sales. A basic base, with large reward payment targets based on performance. Be that revenue gains, partnership progressions, Shareprice, their own investment into the company, whatever.....
Hell, you could offer them 10 mill for all I care, all I expect is that the 9.9 million is tied to any combination of new partners, new products, new brands, new revenue streams, growth, soph investment, share price, whatever... as of the last few years, ifs been F-ALL, and they aren't deserving of s#1t.
If the BOD want to earn the respect of the market back, they should each buy 100k worth of shares this week, give us some god damn targets, the timeframes they will achieve them in, define when period updates and information will flow, and continue to buy in more over the course of the year.
We have given them enough god damn money to do so.
Of course however, that's simply not going to happen because they have no compulsion to do so,.
Instead, its easier for them to just sit back and let the church of OBJ minions, usually found congregating on hotcopper, sing the "ode-to-obj" hymn, it goes like this:
"ALL GLORY TO OBJ AND ITS BOARD!!!.. Here be to you, your X millions in payment!!! ... all glory to you!!!....we have faith,!! we believe!!! Hallowed are the OBJ BOARD!!! WE BLINDLY ACCEPT THE NEXT QUARTER WILL SOMEDAY COME TO SAVE OUR FINACIAL SOULS!!!!"
... to which the BOD members just reply....
"Riiiiiiight .... yep OK, thats not weird at all ..... but cool, cool....., ok, well we will just put all that money here in our own little safe ........ done.... ok then? can we get more money next year again?"
The whole thing is god damn amateur hour, its free money with no need to perform and the BOD knows it. They onto a huge winner, and they dont want that to change. Worse still, how do we even know they are spending any time on OBJ? half of them have other business and appointments ,... maybe the holders in those other business have had the brains to make remuneration there conditional, in turn making OBJ a less important side package for the occasional look in by our BOD, how do we know we are getting the valid attention needed for company growth?
Id dare say there is many people on here, (some are the ones who hate me the most, and who I might even strongly disagree with,) all whom if they had been appointed to the BOD last year, could have genuinely achieved the same results for much less money than our current BOD. They certainly have far more passion to get OBJ some runs on the scoreboard. I'd sooner put them on the Board that the supposedly "Olympic team" we have now, who are only playing at the junior 3rd division level - Multiple years in, and not a damn point on the scoreboard.
This BOD is basically a corporate version of Tomic the dirty little tank engine.
They suck, and they aren't worth their salaries to date.
They should get the hell out of this game if they aren't going to put in the effort to win, and especially get their damn fingers out of the till, least they put something in it first.
If they don't like that? - well then they are welcome prove me wrong and take some of the goddamn actions's I've suggested. I'll be the first to apologise, again, I'll even buy them a nice little fruit basket.... Until then, I consider them just a bunch of useless couch potato's riding the gravy train on the bonus boat, moored in the ocean of free money, off the coast of a Cayman islands holding account.... prove me wrong BOD, prove me wrong.
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