Seven West Media managers tighten their bonus belts
Dr Mumbo’s favourite thing when ASX companies’ annual reports come out is to turn straight to the remuneration page to find out just what the bigwigs are being paid.
So in the context of Seven West Media losing a quarter of its value over the last two days of trading after publishing its results for the last financial year, Dr Mumbo was intrigued to find out the winners and losers…
Not only does the SWM annual report show bosses’ salaries, but also what percentage each of them got of their annual bonus, based on hitting their KPIs.
Top of the class came chief digital officer Clive Dickens (pictured), who got 55% of his short term incentive plan.
It’s one thing to have this reported in a company’s annual report, which I think they have to do, but for you guys to write an article on it and publish all these individuals’ incomes is a bit of disgrace.
Why not? It’s newsworthy. It’s a public company and the public have every right to know what the executives are getting paid. It would certainly influence my decision to buy, sell or hold SWM shares.
If execs are earning a million or more each out of shareholders potential dividends, everyone has the right to know exactly how much of it is being paid to management. These people are employees. Private company/owners … totally different story.
Anyway, to be earning millions and then complaining about it being released is pathetic.
Totally agree. They are basically picking the pockets of their shareholders.
Further, % of bonus is a ridiculous measurement – either you met all of your objectives and deserve the full payment or you didn’t, and don’t. If I only do half of my job I don’t just get paid 50% of my salary – I get fired.