Southern Cross Austereo boss Grant Blackley takes home $500k bonus after first year in the job
Southern Cross Austereo CEO Grant Blackley has pocketed a tidy $1,726,686 after his first year as CEO.
Blackley pocketed a $500,000 bonus after first year as SCA CEO
The remuneration details were revealed in the company’s annual report in which SCA chairman, Peter Bush, lauded Blackley’s performance, saying: “In his first year as CEO, Grant Blackley has streamlined and reinvigorated his leadership team and has delivered the improved results”.
In August, SCA reported a lift in revenue for the full year of 5.1% to 642.3m with net profit, after tax, of $77.2m. Earnings before interest, tax, depreciation and amortisation were up by 2.8% to $167.7m.
While congratulations are in order for a job well done, it is unfortunate that this news is released the very same week that Southern Cross Austereo chose to restructure their Payroll system resulting in full and part time employees losing a fortnights wages after the company moves from paying employees in advance to arrears. Many of the effected workers fit into the lowest income earners within the company. Poor form from the Leading Entertainment Provider, not much wonder they are no longer listed on the BRW Best Places to Work List anymore.
They gave plenty (3+ months) of notice and offered several payment arrangements/options to get through the adjustment.