Greg’s $1.2m belt tightening
The Australian reports that Fairfax Media boss Greg Hywood has taken a voluntary cut to his bonus and only received a salary of $1.178m over the last year.
The article predicts: “Mr Hywood’s offer is likely to win him plaudits from Fairfax staff at a time of ill feeling and low morale.”
Dr Mumbo won’t hold his breath for the plaudits.
Gettinv in early is always good. But the shareholders might well question any bonus. They might even wonder why Fairfax wants to spin this so blatantly?
Spotted Cogito. The Oz must have had a reporer in the Fairfax board room!
I’m glad Greg didn’t take his bonuses; it would have been in poor taste with the redundancies being announced and executed in the past 12 months. I think he did the right thing, even if it was only a publicity stunt for the staff.
they should be paying him a massive bonus if he turns it around