The Australian today (31 Oct) reports on the monster stipend that Chairman Peter Costello is pulling from Nine.
My hope is that Mr. C. can start adding some value in exchange for the sums he's taking out of the business.
Former federal treasurer Peter Costello is the best paid non-executive director in Australian media...benefiting from industry-high fees despite the company recording the sector’s worst share price performance over the past year.
Nine, which has a market value of $749 million, pays Mr Costello $425,000 a year for his services, a sum that would be on par with many executive salaries in the sector and about double what he earned as treasurer, before allowances.
Nine’s generously paid board is a legacy from its $3 billion debt-for-equity restructure in 2012.
http://www.theaustralian.com.au/bus...p/news-story/f5bb449e40b8a872a5ac554e6c2199b5
Peter Costello, page-14
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