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Fearing Workers’ Victory, Railroad Commission Approves Payment for Laxation of Extravagant Executives

TAHE’s five-strong board, chaired by Bruce Morgan, approved a severance package last June and voted a month later to sweeten the deal with a generous bonus scheme.


At the time, TAHE was upset when it was revealed that he was throwing $1 million a year into it. swish new office In Sydney’s CBD instead of staying in a rent-free space in a building they own near Central Station.

Last year, amid the crisis engulfing TAHE, the government decided not to approve layoffs and bonus schemes. A spokeswoman for Matt Keane, Treasurer, said, “The Treasurer has neither sought nor approved any changes to the CEO’s salary structure.”

The board has approved a recommendation for Morgan and two other directors to extend their contracts by up to three years in 2022, according to other documents. It means that Morgan, who was a division, will remain on the board until June 2025.

A government spokesperson said it is government policy to “appoint members of the board so that it can function properly.” “TAHE’s appointment took place 12 months ago,” a spokesperson said.

The State Enterprise was set up in 2015 to shift billions of dollars in NSW rail costs out of the state budget and into the entity.

a Herald 2021 TAHE Survey provoked a congressional investigation and, Auditor General delays sign-off State finances were impacted by “significant accounting problems” related to railroad companies.

Shadow Treasurer Daniel Mookie asks the TAHE Board to explain its intentions.credit:Kate Geraghty

Shadow treasurer Daniel Mookey said the board needed to explain why they wanted to hand out the gold parachute to Top Brass.

“Hospital cleaners are not entitled to a severance package as generous as the TAHE board was ready to offer executives,” he said.


A TAHE spokesperson said proposals to change the chief executive’s terms of employment and dismissal arrangements were not being pursued.

“TAHE senior management is compensated in line with industry and state-owned enterprise benchmarks. No bonuses, incentives or non-salary items are paid to TAHE senior management,” said a spokeswoman. said.

Colin became the third CEO in a year for the state-owned company, joining in September 2021.

Later that year, the company paid a PR firm $275,000 to The “reframe” strategy Its tattered public image.

PR firm SEC Newgate listed a set of management goals, including two “proactive” media articles, four LinkedIn posts each month, and hosting two “significant” project-related events. It advised Colin to “complete two keynote addresses, opinion pieces and/or exclusive media interviews” in 2022.

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https://www.smh.com.au/national/nsw/rail-board-approved-lavish-executive-payout-fearing-labor-election-win-20230305-p5cpgz.html?ref=rss&utm_medium=rss&utm_source=rss_national_nsw Fearing Workers’ Victory, Railroad Commission Approves Payment for Laxation of Extravagant Executives

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