Critics have labelled the payouts of Telstra CEO Sol Trujillo and Pacific Brands chief executive Sue Morphet as ‘greedy’ ‘obscene’ and a ‘corporate crime.’
After announcing he would leave Telstra in June, Sol Trujillo has received a $30 million golden handshake, despite the sacking of thousands in his time at the top.
This follows news that Pacific Brands chief executive Sue Morphet received a payrise of close to $1 million after sacking 1850 workers.
ACTU president Sharan Burrow has blasted the payouts, labelling them as “obscene”.
“This is not the kind of corporate leadership Australia needs. We need people who are prepared with the shareholders to take a hit on the bottom line this year to see Australia through and keep jobs in the economy.”
Burrows launched a scathing attach on corporate Australia, saying that it has lost its “moral compass.”
Meanwhile, a spokesperson for Nick Sherry, Minister for Superannuation and Corporate Law said the government would examine the payouts.
“The government is very concerned about trends in developments about executive remuneration and are keeping a watching brief on this.”
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