Wednesday, August 16, 2006

A performance bonus??!!??

As Telstra dives, Sol gets $2.6m bonus

Michael Sainsbury and Patricia Karvelas
August 11, 2006

TELSTRA chief Sol Trujillo has been rewarded with an $8.7million pay packet for a year in which he infuriated Canberra, wiped $16 billion off the value of the company and delivered the worst profit performance since it listed on the stock market nine years ago.

Despite yesterday handing down a 26 per cent slump in full-year net profit to $3.18 billion, Telstra said its imported chief executive had hit enough performance targets to pocket a short-term incentive bonus of $2.58million.

Full story is here

People have been fired for less. What the hell would he have been paid if he'd actually performed!

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