Business

Mar 23, 2009

Eddington blasts golden handshakes. What about News Corp?

Leading Australian company director, Sir Rod Eddington, strongly criticised lofty termination payments last week. Was he so forthright in the News Corporation boardroom last month? Adam Schwab writes:

Leading Australian company director, Sir Rod Eddington, strongly criticised lofty termination payments last week, telling Fairfax that "senior executives getting large sums as they leave companies, where it's seen as 'payment for failure' -- it doesn't just make shareholders angry, it makes staff angry."

Eddington's comments came after the Federal Government announced that it will amend the Corporations Act to require shareholder approval for any executive termination payments which exceed 12 months base salary.

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1 comments

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One thought on “Eddington blasts golden handshakes. What about News Corp?

  1. Engineer

    On the available evidence, the following is self evident:

    Show me a professional director of blue chip companies and I will show you a professional thief.

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