Firstly, he would not be commanding a $2m salary elsewhere. Unless it was inclusive of incentives, it just isnt going to happen.
Secondly, Management has done a great job thus far. We all agree that. That doesnt mean they should be given 100's of millions of options that are virtually in the money. Bringing us the supposedly brilliant assets of marhsala is only one part of the equation. The second, and by far the more important, is to make it work and deliver on what it potentially can. Rewarding execs this heavily this early simply does not tie them into the same goals/targets that we have all bought in because of... eg 15m tpa in 2015. 100m options that will soon be in the money means they are being rewarded at $1m a cent movement. That's not exactly a sensible reward in my eyes. And for all those talking of how much we "owe them"... well i dont subscribe to that. We are risking our hard earned cash on them, that's actually more than management are risking at this point. I work with top corporates daily and delivering opportunities to companies is what executives do. Those that do it better than others and can then make those assets/opportunities work then share in the ongoing rewards associated with what they have created. Management should show some faith in what they are saying re the companies potential and set some performance goals that are a tad more ambitious, but still highly achievable if they can deliver even half of what they say. I cant fault a think this company has done since I have been a s/h about 7 months ago... except for this. Its too big a reward for delivering only part of the equation.
CCC Price at posting:
72.0¢ Sentiment: Buy Disclosure: Held
