Displaying items by tag: Stephen Rue

The union representing workers at the NBN Co has levelled strong criticism at the company over the fact that chief executive Stephen Rue has given himself a $1.2 million bonus while overseeing a cost blowout of $6.7 billion and not taken 300,000 premises into account in the rollout plan.

The NBN Co has indulged in various kinds of spin over the years to project itself as an organisation that is doing a brilliant job at rolling out a broadband network in Australia and thus its latest stunt, to keep some of its accounts hidden and reveal them only at the half-year and full-year results stages, should not come as a surprise to anyone.

The operator of the national broadband network, NBN Co, is trumpeting strong momentum and earnings growth, recording quarterly earnings of $102 million in the three months ending September 2020, compared to a loss of $435 million in Q1 FY2020 – and with total revenue of $1.07 billion for three months, up 22% on the corresponding quarter last year.