Very convenient:
TELSTRA boss Sol Trujillo will take $20 million in severance pay and other benefits when he leaves the company later this year, evading the imposition of new federal laws designed to curb the size of payouts to departing bosses.
So too is the emasculated principle of ministerial responsibility, which has failed to ensure ministers take personal responsibility for government “excess”, the telco writes.
Give me a break! What about Sol’s excess? A minister gets paid between $150k to $250k. This is just typical left-wing hypocrisy. When Trujillo took over Telstra the share price was $5.06 and today it is $3.03. And before you all say it is the global financial crisis, the share price never went back above the $5 level under Trujillo over the nearly 4 years he was in control. If you recall, the share price dropped heavily after Trujillo started to talk down Telstra and attack the government.
I’ve got no problem with Sol getting what he thinks he can get away with from shareholders, but spare us the holier than thou attitude when it comes to politics.