Sorry, No Bonuses: Telstra Execs To Suffer Over 2016 Outages
Telstra executives will dip out on their annual customer service bonuses this year – at least partly due to the continued outages customers experienced in the first half of this year.
CEO Andy Penn and chairman John Mullen told shareholders at this week’s AGM that the “network service interruptions” played a large part in the incentives not being paid. It was unclear if Penn’s bonuses would be among those canned.
Said Mullen at the AGM: “Overall in 2016 Telstra delivered solid results for shareholders. However we did not make enough progress on improving customer service.
“The remuneration outcomes for the 2016 financial year therefore reflect this under-performance and, as a result, no incentive payments were made to senior management in respect of customer performance.”
Telstra issued two free-data downloading days for customers in response to the string of failures to its NBN and ADSL broadband. It also announced a $3 billion spending plan to accelerate network improvements.