I recently received a letter from the chairman of Telstra, one of Australia’s megacorporations, in which he apologised to shareholders for a lack of ‘transparency’ around executive remuneration in the company. His letter went on for four pages and was about as ‘transparent’ as a dark night at the bottom of the harbour.
But he did close by saying “we welcome your feedback”, so I thought I would give him some.
The chairman of Telstra is paid over $700,000 a year for his part-time role, which includes deciding what to pay the Chief Executive Officer of Telstra, who made over $4.5 million last year. I think this is excessive. I wrote back to say so.
Then, because giving my opinion to the chairman of Telstra is about as impactful as stabbing him with wet spaghetti, I thought I would write a blog post about it. Please read it and share it around.