1 July 2005, Telstra share price was AU$5.06. 3.5 years later, Sol Trujillo announced his pending departure [26 February]. With Telstra stock nearing a record LOW on Trujillo's watch - AU$3.68, we're informed that Sol will take with him his AU$13.4-million pay package for this year plus another AU$30-million payout. Plus his eight-digit salary each of the previous three years.
For the past four years, Trujillo spent a significant portion of his time outside Australia, distant from the iconic industry he purports to manage. (Does Trujillo use NextG to manage-from-afar?)
For the past 12 months, he focused intently on landing his next job ... while finishing his promised lay-offs of 12,000 Telstra employees. (Is Trujillo helping them in their job searches?)
Trujillo has spent four years raping and pillaging a major Australian asset, receiving perhaps AU$70- million, while driving down the value of the shares owned by Australian citizens.
I don't know which is more pathetic: The nearly 30% loss in stock value; Trujillo's AU$30-million payout; or Telstra employees learning today about Sol's resignation through its announcement by the media!
Judy Bamberger
Judy Bamberger | +61-2-6247-6220 (phone, fax) |
Process Solutions | +61-2-6247-4746 (home) |
O'Connor ACT 2602 AUSTRALIA | |
bamberg [ AT ] eaglet.rain.com |
See also: citizensagainstsellingtelstra.com
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Tigerquoll
Fri, 2009-02-27 12:17
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System encouraging some to be more equal than others
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