Greens to move against greedy CEO packages
27 Feb 2009 3:37 PM
CANBERRA, Feb 27 AAP - Labor should follow US President Barack Obama's example and act against the greediest chief executive pay deals, Greens leader Bob Brown says.
The party will move amendments to stop CEO payments of more than $1 million when parliament resumes in March.
The proposal comes after it was revealed 13 directors of Bonds manufacturer Pacific Brands gave themselves pay rises in 2008 before sacking 1,850 workers.
There was more outrage on Friday with reports outgoing Telstra chief executive Sol Trujillo will walk away with a $3 million pay bonus.
"I cannot understand why a Labor Prime Minister won't at least give shareholders the power to veto multi-million dollar golden parachutes for CEOs," Senator Brown said in a statement.
"President Obama has shown Kevin Rudd the way and now it's time for Mr Rudd to act."
Three previous attempts by the Greens in the Senate to constrain chief executive packages were voted down by both Labor and the coalition.
