Originally Posted by
ozbiggles
‘Surely CEO can’t be paid out, can someone confirm? How could he in good conscience take that money while others get nothing.’
Question has already been answered. Yes he can and the fact the company did answers the second part of you question. I get the feeling however First Officer Karma is knocking on a few doors now and we haven’t heard the last of how the executives behaved and who may have given them direction as Rome burned.
Interesting. ASIC can apparently, if someone is issuing directives to the Board or from the Board, deem the former at least, to be effectively a Board Member/Director, placing them within the ambit of having their personal assets seizable in any liquidation/bankruptcy. I know this because it was raised as a power of ASIC during my time as an employee at a company that went bust.