Bill Morrow Gets A Payrise
NBN Co CEO Bill Morrow has seen his annual pay jump 18.7 percent to $3.6 million as the project gathers pace, according to an AAP report.
Morrow’s remuneration package for 2015-16 includes a base salary and fees of $2.31 million and a $1.24 million bonus, plus around $42,000 in superannuation contributions and long service leave, according to NBN Co’s latest annual report.
In FY 2014-15, Morrow was paid a total of more than $3 million, including a base salary and fees totalling $2.28 million and a $483,000 bonus.
Government-owned NBN Co last month increased its revenue target by 25 per cent to $5 billion for 2020 but revised how some connections would be made – shifting up to 1.5 million premises from cable internet connection to cheaper–fibre-to-the-node connection after a cost review.
Morrow expects a 30 percent jump in data consumption – bolstered by users watching videos and movies on mobile devices – to drive usage and revenue for the wholesale network.
NBN Co has forecast average revenue per user – a key figure for the telecommunications industry – of $52 a month by 2020, up from its previous target of $44 a customer by 2018.