for whom the bell does not toll

You have to love this.

Paul Little, CEO of Toll Holdings got a cash payout of over $8million dollars because the value of his share options was well below what was expected. This was part of a $55million payout to Toll’s executives.

Now hold on, let’s think about that. The value of Toll Holdings’ shares plummets by over 50%…and because of that the CEO and other execs are rewarded. Executive mismanagement has seen the company value go to shit so the executive managers are given million dollars of cash.

There was a significant protest vote at the Toll Holdings AGM. However. However, as Paul Little holds a massive block of voting shares he simply out voted those who protested. Then he refused to answer any questions on remuneration.

What a champion.

And Toll Holdings are not alone in contemptuous treatment of shareholders and the should-be-illegal rape and pillage of company finances.