Telecom’s remuneration conduct is obscene. Increasingly it resembles Spot the dog on his skate board sliding over very thin ice. The thin ice is societal tolerance and Telecom is the dog!
Telecom acquiesces in biased employment practices, as we are seeing in my rohe, Northland/Tai Tokerau. In this area it is trashing its own brand. At a time when the whole country is belt-tightening and other corporate leaders are observing restraint they are doing the opposite.
Theoretically CEOs are rewarded on the basis of results. The stratospheric salary of Telecom’s CEO is nauseous. There is no way that he represents $7.5 million of value to either shareholders or society. At the same time the economic prospects of Northland employees have been disconnected by an overbearing, self-serving, bogus type of governance masquerading as a board of directors. Telecom obviously believes it can hoodwink its shareholders but it neglects at its peril the importance of societal sanctions as to what is proper commercial conduct.
I fear in the North that the livelihoods of Telecom employees are being screwed to embellish mahogany panelled lifestyles.