AAP General News (Australia)
02-03-2004
Fed: PM understand irritation of payouts for failing bosses
CANBERRA, Feb 3 AAP - Prime Minister John Howard today said he could understand community
irritation at big payouts to company bosses who had failed to perform.
But he still believed companies should be entitled to pay high salaries to attract
talented chief executives.
The multi-million dollar payout to former National Australia Bank chief executive Frank
Cicutto has sparked criticism after he resigned in the wake of a $360 million currency
trading scandal.
He will walk away with a termination payout of $3.27 million, plus …
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