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AUSTRALIAN EXECUTIVE SALARIES UNREALISTIC: WORKPLACE MINISTER.
CANBERRA, Oct 1 Asia Pulse - Some executive salaries were not in line with reality and reinforced the perception that businessmen were greedy, Workplace Relations Minister Tony Abbott said today.
Coles Myer Ltd (ASX:CML) chief executive John Fletcher received a $A7.7 million ($US4.16 million) golden handshake from his previous employer, Brambles Industries Ltd (ASX:BIL), and Telstra Corp Ltd (ASX: TLS) chief executive Ziggy Switkowski pocketed $A2.4 million ($US1.3 million) last year, including a $A50,000 ($US27,025) pay rise despite the telco's disappointing run.
They are the latest in a number of top executives revealed to have received multi-million salaries or payouts.
"I don't believe that you need to pay people astronomic salaries to get a good day's work out of them," Mr Abbott told ABC Radio.
"That old Australian adage, a fair day's work for a fair day's pay, and I think that some of these senior executives really are dreaming frankly, the amount of money they get paid.
"It gives ...
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