World
Telstra CEO Receives $700,000 Pay Rise to $6.8 Million Amid Nationwide Outage
Despite a recent nationwide outage affecting millions, Telstra CEO Vicki Brady saw her pay rise by 11% to $6.8 million for the fiscal year.
Telstra has reported that its CEO, Vicki Brady, received a pay increase of $700,000, bringing her total compensation to $6.8 million for the year ending in June. This decision was disclosed following the company's financial results announcement on Thursday.
In light of a nationwide outage that affected millions of customers in July, the company decided to reduce Brady's bonus by 20%, resulting in a total deduction of $1.3 million from senior executive bonuses. The Telstra board met on Monday to address the financial ramifications of the outage.
While Brady's bonus was reduced, her overall pay still increased by 11%. This move has drawn attention given the recent service disruption, prompting discussions about executive compensation in the context of company performance.