Ten boss Hamish McLennan picks up nearly $5m in network’s shares
McLennan
Network Ten CEO Hamish McLennan has been awarded nearly $5m of shares in the network as it gears up for its Sochi Winter Olympics coverage.
Yesterday the network revealed to the Australian Securities Exchange McLennan had been given a further 14.5 million shares, with a market value of $4.819m as part of the “executive incentive share plan”, almost a year after he accepted the role.
A spokesman for Ten described the award as a “formality”, and they add to the 3.13 million shares McLennan already held in the company, with the latest round of shares being approved at Ten’s Annual General Meeting in December.
He’ll be able to buy the whole network for 5 million in a couple of years. They’ll be wishing they still owned EYE then.
well deserved too.. with all the successes they have had in 2013 i cant think of a more worthy gift for Mr McLennan.
Smart move in my book.
$5m is a big incentive to work your ass off and turn round the network.
So let’s look at the 2 key performance indicator’s the most important in broadcast TV. The 2 R’s ratings and revenue and then responsible cost controls etc. Ratings 2013 worst in network history no matter what spin you put on it, regularly beaten by the ABC. Revenue official audited numbers from KPMG around a 21.5 share doubled by both 7 and 9 rough numbers. So with that knowledge would you as a shareholder be happy to hand out this obscene amount of the companies money? What ever lawyer he used ought to get a “sling”.