The top 20 CEOs in Australia (that is, those managing the 20 largest companies), were paid on average 320 times the wage of the lowest-paid workers in the country.
A large number of award nominations are the result of sustained PR campaigns by universities, big companies, public service departments, political parties, professional and industry associations and not-for-profit organisations, explains Noel Turnbull.
Despite the Federal Government's gold handshake legislation merely giving shareholders the right to veto large payouts, CEOs were unimpressed.
The Federal Government appears to be taking a solid first step towards reducing executive largesse.
The Australian Institute of Company Directors has hit out strongly at claims that directors have been “insider trading”, writes Adam Schwab.
The push to weaken director’s liability is continuing, with former high-profile director, John Ralph, telling the AFR that he wouldn’t join company boards if he were retiring today. Ralph stated that "it seems a lot more fun to go into private equity where you can just get on with things."
ASIC boss Tony D’Aloisio implied to the Australian Institute of Company directors yesterday that the Australia’s corporate regulator may take a softer line on director liability, writes Adam Schwab.