Federal

Apr 16, 2012

Mayne: time for unions, councils, super funds to embrace ASX-style disclosure

Amid all the corruption claims engulfing the Health Services Union, one of the most surprising revelations has been the size of the pay packets of suspended president Michael Williamson and national secretary Kathy Jackson.

Stephen Mayne — Journalist and Founder

Stephen Mayne

Journalist and Founder

Amid all the corruption claims engulfing the Health Services Union, one of the most surprising revelations has been the size of the pay packets of suspended president Michael Williamson and national secretary Kathy Jackson.

2 comments

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2 thoughts on “Mayne: time for unions, councils, super funds to embrace ASX-style disclosure

  1. John Bennetts

    Well stated and about time, too.

    Next, have a look at the gambling industry’s biggest earners.

    They do OK, thanks.

    Don’t forget domestic and overseas trips, phones, cars, second cars, housing and personal loans, including for purchase of investment and holiday homes whilst still living in employer-provided accommodation, insurance (life, income and travel), domestic slaves and other business expenses of a personal nature, as well as termination provisions and superannuation. It is not unusual where I live for CEO’s of registered clubs to not disclose their salary package even to board members (especially to board members?), preferring to hide behind secrecy clauses that serve the recipient far more than the club and its members.

  2. Tom Jones

    Disclosure of the superannuation payments in super funds is part of corporate governance and if a super fund is performing well it is no less suitable for a union rep to be rewarded for their diligence than anyone else. However if a fund isn’t performing well then all of the board should be held to account. I can’t see that union membership required a different standard.

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