Merry Christmas to Peter Wilson. When it was suggested that Peter Wilson should be independent of the old board so that we can have a fresh start Peter responded with "That's your issue". Summary of the meeting here: viewtopic.php?f=23&t=594
A good summary of where we are up to by Joe Aston of the AFR, linked to from here: viewtopic.php?f=5&p=4137#p4137
If you are new to this website read the story so far: viewtopic.php?t=321#p1793
Check out some of the AFR articles, too many to list and check out some of the ABC reports: http://www.afr.com/business/accounting/ ... 215-h055ej http://www.afr.com/business/accounting/ ... 211-h02x1d http://www.abc.net.au/news/programs/the ... s,/8626662
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CEO terminated effective today!

A weekly round up of the issues and progress
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slaa4044
Posts: 36
Joined: Thu Mar 30, 2017 7:33 pm

CEO terminated effective today!

Post by slaa4044 » Fri Jun 23, 2017 10:30 pm

Last edited by slaa4044 on Fri Jun 23, 2017 10:55 pm, edited 1 time in total.

Heisenberg
Posts: 84
Joined: Thu May 04, 2017 5:19 pm

Re: CEO resigns effective today!

Post by Heisenberg » Fri Jun 23, 2017 10:32 pm

They sacked him actually. Either way a positive move.

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2Pot Screama
Posts: 8
Joined: Tue Jun 13, 2017 10:41 pm

Re: CEO resigns effective today!

Post by 2Pot Screama » Fri Jun 23, 2017 10:33 pm

Just a lazy $4.9m payout. That's our money. What a thief
OOOOOOHHHHHH YEEEEEAAAAAAAAHHHHHHHH.

Sleet
Posts: 7
Joined: Fri May 05, 2017 1:08 pm

Re: CEO resigns effective today!

Post by Sleet » Fri Jun 23, 2017 10:37 pm

$4.9 million to get rid of him?

Unbloodybelievable.

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2Pot Screama
Posts: 8
Joined: Tue Jun 13, 2017 10:41 pm

Re: CEO resigns effective today!

Post by 2Pot Screama » Fri Jun 23, 2017 10:45 pm

The Naked Ex-CEO
OOOOOOHHHHHH YEEEEEAAAAAAAAHHHHHHHH.

Not_A_CPA
Posts: 32
Joined: Sun Apr 30, 2017 1:08 pm

Re: CEO resigns effective today!

Post by Not_A_CPA » Fri Jun 23, 2017 10:45 pm

such a nice guy, hope the door doesn't hit him in the way out!!! Be hard to find a replacement who can spend so much of other people's money on themselves without a care in the world.

Interesting he was terminated and he didn't resign. Love to have been a fly on the wall in that meeting. Normally as crook as the CEO may have been they usually let them resign unless something big is underfoot and want to distance themselves. Wonder what else is going to come out of the woodwork.

Sleet
Posts: 7
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Re: CEO resigns effective today!

Post by Sleet » Fri Jun 23, 2017 10:48 pm

He clearly fleeced everyone.

Should be a bloody discount on cpa fees this year.

Absolute disgrace.

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2Pot Screama
Posts: 8
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Re: CEO resigns effective today!

Post by 2Pot Screama » Fri Jun 23, 2017 10:49 pm

Not_A_CPA wrote:
Fri Jun 23, 2017 10:45 pm


Interesting he was terminated and he didn't resign. Love to have been a fly on the wall in that meeting. Normally as crook as the CEO may have been they usually let them resign unless something big is underfoot and want to distance themselves. Wonder what else is going to come out of the woodwork.
Spot on. He probably had to be escorted from the premises while Tom Petty's "I Won't Back Down" was playing
OOOOOOHHHHHH YEEEEEAAAAAAAAHHHHHHHH.

Time4Change
Posts: 104
Joined: Mon Jun 05, 2017 2:20 pm

Re: CEO resigns effective today!

Post by Time4Change » Fri Jun 23, 2017 10:52 pm

I am really furious.. $4.9 million surely. Who authorised this payout! Surely not members. Sacking him is one thing. What about the investigation what about using our funds to promote himself, what about changing the constitution to make us members powerless with no voice and vote. The constitution has to be changed and the two other executives and current board it's time to go. We members are being ripped off for what to pay mr Malley $4.9 million as payout and god knows how much he tools for the 7 years and a half he was employed.
We should demand for the current board to disclose how much was pay to Malley over the 7 years and half as remuneration.
Last edited by Time4Change on Fri Jun 23, 2017 10:59 pm, edited 1 time in total.

Time4Change
Posts: 104
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Re: CEO resigns effective today!

Post by Time4Change » Fri Jun 23, 2017 10:55 pm

My question to the board why was Alex paid $4.9 million as payout. Mr Malley build the surplus as he has been saying in his sale talk and then ask for $4.9 million and the board says yes sure anything. What the heck!! Surely they are out of their mind. So if his annual salary is $1.8 million where does $4.9 million payout come from. Let email the board and ask for a breakdown of what constitutes bathe $4.9 millions payout?

slaa4044
Posts: 36
Joined: Thu Mar 30, 2017 7:33 pm

Re: CEO terminated effective today!

Post by slaa4044 » Fri Jun 23, 2017 11:12 pm

If you ask for that information on LinkedIn, Jillian Bowen might respond ... she responded to me personally about her Facebook posts ... saying they were private ...

theallseeingeye
Posts: 93
Joined: Sat Jun 03, 2017 4:23 am

Re: CEO terminated effective today!

Post by theallseeingeye » Fri Jun 23, 2017 11:18 pm

If the Board of CPA think this puts and end to their troubles, they are in for a rude shock. A lot of unanswered questions still to be dealt with. Current board must go, and ASIC must investigate - not just issues of governance, but remuneration and spending decisions as well.

mac42
Posts: 5
Joined: Wed Jun 07, 2017 8:56 pm

Re: CEO terminated effective today!

Post by mac42 » Fri Jun 23, 2017 11:19 pm

wow this is a whole new level... and terminated too.

That payout though.... what on earth....???

slaa4044
Posts: 36
Joined: Thu Mar 30, 2017 7:33 pm

Re: CEO terminated effective today!

Post by slaa4044 » Fri Jun 23, 2017 11:21 pm

theallseeingeye wrote:
Fri Jun 23, 2017 11:18 pm
If the Board of CPA think this puts and end to their troubles, they are in for a rude shock. A lot of unanswered questions still to be dealt with. Current board must go, and ASIC must investigate - not just issues of governance, but remuneration and spending decisions as well.
Here, here ... but what a great start!

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Stomper
Posts: 184
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Location: Sydney, NSW, Australia

Re: CEO terminated effective today!

Post by Stomper » Fri Jun 23, 2017 11:32 pm

$4.9M ????????????

What the f*** was in his contract?

Who agreed to it?

And why wasnt the payment put to the members for approval in accordance with "Corporations Amendment (Improving Accountability on Termination Payments) Bill 2009"?

https://www.legislation.gov.au/Details/ ... andum/Text

antiwarclan
Posts: 18
Joined: Thu Jun 22, 2017 8:11 am

Re: CEO terminated effective today!

Post by antiwarclan » Fri Jun 23, 2017 11:41 pm

Slaa4044, how do you post message in cpa linkedin page?

Not_A_CPA
Posts: 32
Joined: Sun Apr 30, 2017 1:08 pm

Re: CEO terminated effective today!

Post by Not_A_CPA » Fri Jun 23, 2017 11:41 pm

Stomper wrote:
Fri Jun 23, 2017 11:32 pm
$4.9M ????????????

What the f*** was in his contract?

Who agreed to it?

And why wasnt the payment put to the members for approval in accordance with "Corporations Amendment (Improving Accountability on Termination Payments) Bill 2009"?

https://www.legislation.gov.au/Details/ ... andum/Text
We're members not shareholders? Perhaps that is the key difference. Secondly perhaps since Malley started his contract only had minor changes so the bill being invoked from 2009 does not work retrospectively by my understanding.

JWheldon
Posts: 287
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Re: CEO terminated effective today!

Post by JWheldon » Fri Jun 23, 2017 11:42 pm

$4.9 million!!!!!!!!!!!!!!!!!!!!

The board is a joke!!!!! The contract that Alex and his lawyer had drafted for the position of CEO must have be a great one, because the board of CPA Australia just spend members funds like its nothing. Where is the accountability? All the State Presidents need to act NOW!!!!!!!!!!!!!!!!!!


Alex still has the final laugh at the members expense. He was probably walking out the door of the board meeting and secretly laughing as he was awarded $4.9 million. With his $1.8 million income, plus his $11 million dollars of assets, he certainly has show what idiots the board of CPA Australia are and how silly the members are.

A real independent investigation is required!!!!!

Adam Awty and Jeff Hughes need to go also, along with their management team, who also have their fingers in the honey pot at the members expense.

slaa4044
Posts: 36
Joined: Thu Mar 30, 2017 7:33 pm

Re: CEO terminated effective today!

Post by slaa4044 » Fri Jun 23, 2017 11:43 pm

antiwarclan wrote:
Fri Jun 23, 2017 11:41 pm
Slaa4044, how do you post message in cpa linkedin page?
If you are a member of the CPA members group, you can just post a message under the relevant conversation or set up your own.
Last edited by slaa4044 on Sat Jun 24, 2017 12:45 pm, edited 1 time in total.

deaneus
Posts: 161
Joined: Mon Apr 03, 2017 9:09 pm

Re: CEO terminated effective today!

Post by deaneus » Fri Jun 23, 2017 11:45 pm

That's a good way to start a weekend

$4.9M - now for the board, this isn't monopoly money

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