Humpy made a comment in a recent post (http://hotcopper.com.au/post_single.asp?fid=1&tid=1724467&msgid=9994958) about TOD being "overpaid". Just to clarify this, he was paid $80,000 in 2011 and $80,000 in 2010. An absolute pitence for what he does. He has also loaned the company money (WITH NO INTEREST) at times.
Any suggestion that he is overpaid is rediculous, in my opinion, and suggests to me that the commentator is ignorant of the facts or has another agenda.
As I have mentioned, I think he's underpaid. I don't think it affects his performance, but, particularly AFTER the company is successful, I believe it would only be right to reward him and the other non-executive directors (who get $50k-$60k p.a.) with shares/options.
I, for one, think being a director is a pretty crappy deal when you think of the responsibilities, liability they have and the defamation/slander that they regularly receive, for a measly $50k-$80k. I would not do that, even if they begged me.
We should be so lucky as to have guys like this on the Board of our company and we should not disrespect them, but rather be thanking them. Most other companies faced with the problems this company has had for YEARS, would have packed up and walked away, BUT NOT OUR GUYS!
Thanks to (the non-executive board)
T J O’Dwyer (Chairman)
J R Nicholls
T W Tappenden
W Henkel
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