Telecom NZ CEO's mantra: we've heard it all before

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by Stuart Corner

Thursday, 04 October 2007

Page 2 of 2 Telecom NZ is expecting the new CEO to achieve similar transformational changes. Chairman, Wayne Boyd, described Reynolds' arrival as "a watershed for Telecom...We know there are few global leaders with his combination of skills, knowledge and experience." Related stories Telstra 'separationists' gain an unlikely ally UPDATED Carriers again unleash ACCC against Telstra over ULL access Telecom NZ's operational separation plan knocked back NZ Gov't faces tough call on Telecom NZ split PCCW & Telecom NZ interconnect IP VPNs He also announced Reynolds' remuneration package saying: "Paul's remuneration reflects the depth of his international expertise and the challenge faced in leading Telecom through this transformation. Globally there are few leaders in the telecommunications industry with Paul's combination of skills, knowledge and experience." For the year to 30 June 2008 Reynolds has an annual salary of $NZ1.75 million, pro-rated for the nine months and a performance incentive award, delivered 60 percent in cash and 40 percent in Telecom ordinary shares with restrictive conditions. "The annual target value of the incentive award is $NZ1.75m per annum which will be pro-rated for the nine months," Boyd said. "The performance incentive scheme is designed to reward Paul for achieving pre-specified target levels of performance that will create value for shareholders. These measures will be set by the board within the next 60 days and are likely to include performance objectives based on Telecom's strategic plans." Boyd added: "Paul's remuneration reflects the depth of his international expertise and the challenge faced in leading Telecom through this transformation."{moscomment} Please enable JavaScript in your browser to post your comment! Tags See All Tags Stuart Corner  Telecommunications  Get stories like this delivered daily - FREE - subscribe now << First page <   1 2 Next page > Last page - Post your comment >>

 

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