Federal Communications Minister Paul Fletcher,who nine years ago took aim at NBN's salaries as comparable to those at the"Millionaires'Factory"of Macquarie Bank,would not comment on the million-dollar wages on Tuesday. Instead,his spokesman said the corporation operated in a commercial environment and its pay rates were a matter for the board.
NBN Co's annual report revealed its management team received $2.9 million in personal bonuses for the last financial year,a nearly 40 per cent increase compared to $2.1 million the year before.
The top executive team was collectively paid $11.4 million in 2020 and all but one of the top executives received a seven-figure total pay packet.
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"The COVID pandemic required,as a priority,that NBN continue to provide a resilient network which Australians could trust,not to withhold compensation from those people who have made it work and have justly earned their incentives,"NBN Co chairman Ziggy Switkowski said.
"[The NBN] has performed very well throughout the COVID-19 pandemic when the nation has needed it most."
At the same time the board of Australia Post,also a government-owned business,vetoed all bonuses for its executive team,with its managing director Christine Holgate taking a 20 per cent wage cut amid massive unemployment.