Executive pay

The touchy subject of executive pay is once again a hot topic with Yahoo! CEO Marisa Mayer looking to receive a severance pay of around $36 million - it's hard to believe. Former Woolworths CEO Paul Simon once stated no executive should earn more than 30 times the wage of the lowest full-time employee in the company - that was a very astute observation. Now Woolworths is in real bother, the company is once again seeking the services of Paul Simon to repair the damage. 

Furthermore, Paul Simon spent three days per week walking the aisles of the supermarket chain talking to not only managers; he spent considerable time speaking to rank and file employees and customers alike seeking ways to improve the business - he managed to position the supermarket as the leading retail business in Australia. As a shareholder, they are destroying the value of the company, yet the way they pay themselves you would think the share price is rocketing skyward unabated. We need sense to prevail, we need to respect the principles of corporate social responsibility.