[LINK] Sol gets $2.6m bonus

[Bernard Robertson-Dunn]

Sol gets $2.6m bonus
Michael Sainsbury and Patricia Karvelas
AUGUST 11, 2006
The Australian

TELSTRA chief Sol Trujillo has been rewarded with an $8.7 million pay 
packet for a year in which he infuriated Canberra, wiped $16 billion off 
the value of the company and delivered the worst profit performance 
since it listed on the stock market nine years ago.

Despite yesterday handing down a 26 per cent slump in full-year net 
profit to $3.18 billion, Telstra said its imported chief executive had 
hit enough performance targets to pocket a short-term incentive bonus of 
$2.58million.

The bonus includes a $1.5million payment for delivering his strategic 
plan for the company, parts of which have since been cast in doubt by 
Telstra's brawls with the competition regulator.

The balance of the bonus was won for meeting targets on issues such as 
profitability, cost savings, the number of broadband internet customers 
and the rollout of a 3G mobile phone network.

Included in the $8.7 million pay package was his $3 million annual 
salary and $1.7 million in sign-on fees and payments to help him move 
from the US.

Since Mr Trujillo started at Telstra on July 1 last year, his 
no-nonsense portrayal of Telstra's challenges, spending plans and 
battles with the regulator have sent the stock into a tailspin.

-- 

Regards
brd

Bernard Robertson-Dunn
Sydney Australia
brd at iimetro.com.au