Telecom's $100K club slims - but still nearly 3000 strong
The number of Telecom staff earning more than $100,000 fell slightly to 2870 in the company's financial year ending June 30, 2012, according to its annual report posted today.
In 2011, 2974 staff earned more than $100,000.
Telecom reduced its total head count to 7619 from 8297 in 2011 (itself a chop from the prior year's 8629). The reduction is primarily due to staff who moved over to Chorus with the de-merger.
Departed CEO Paul Reynolds was the standout earner, pocketing a package worth around $10.7 million, with another $2.4 million in the offing plus two months' free phone calls.
TELECOM: FISCAL 2012 TOTAL REMUNERATION
$1 million-plus: 10 staff (2011: 12)
$500,000-plus: 35 (2011: 41)
$250,000-plus: 198 (2010: 243)
$100,000-plus: 2870 (2010: 2974)
Beyond Dr Reynolds' supersize remuneration, a smaller executive team had a more modest time of it. Their base salary plus short-term incentives earned to June 30, 2012:
Chris Quin (CEO Gen-i): $1.29 million* (2011: $1.27m)
Nick Olson (CFO): $1.28 million (2011: $1.13m)
Alan Gourdie (CEO Retail): $1.25 million (2011: $1.48m)
David Havercroft (chief technology officer): $1.11 million (2011: $1.12m)
Rod Snodgrass (chief product officer): $839,575 (2011: n/a)
Tristan Gilbertson (counsel): $799,940 (2011: $857,716)
While most on the executive team had shares granted under a long-term incentive scheme that vested in 2012, the amounts involved were modest compares to Dr Reynolds multi-million stock compensation.
Easily the highest was Mr Gourdie with 45,266 shares, worth around $109,000 at today's price.
* One-month of Chris Quin's 3-month acting CEO stint fell within FY2012