NBN Co chief’s salary jumps to more than $3m despite government call for restraint

NBN Co CEO Stephen Rue’s short-term bonus increased by $7,000 to $704,376 last financial year. Along with a salary increase of $90,000, his total rose to $3.03m.NBN Co CEO Stephen Rue’s short-term bonus increased by $7,000 to $704,376 last financial year. Along with a salary increase of $90,000, his total rose to $3.03m.

Rue’s short-term bonus, which is linked to NBN Co performance targets, increased by $7,000 to $704,376 last financial year. Along with a salary increase of $90,000, Rue’s salary increased to $3.03m.All six of NBN Co’s senior executive team were paid more than $1m or were on track to receive that amount over a 12-month period. All received an increase in bonuses, with some jumping by almost $50,000. One executive’s pay increased from $863,535 to $1m.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup “Unlike previous years, short-term incentive payments are now limited to a select number of senior staff, which has significantly reduced bonus payments,” the spokesperson said. When NBN Co salaries were released last year, the finance minister, Katy Gallagher, and Rowland wrote to the company to express concern and called for more transparency about bonuses.

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