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
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Large Payout to Malley

This covers the board and management of CPA Australia
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Grimace
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Large Payout to Malley

Post by Grimace » Fri Jul 14, 2017 9:01 am

Why was Alex Malley paid out from his contract?

Any normal person (non c-suite) who gets fired only gets payment in lieu of notice and whatever annual leave they have accumulated. Getting a $4.9m golden handshake after getting fired is a disgrace. He should have been shown the door, paid the customary amount for getting fired, and told that if he want's more that we'll see him in court.

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nakedadmin
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Re: Large Payout to Malley

Post by nakedadmin » Fri Jul 14, 2017 11:49 am

Yeah
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passedfc
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Re: Large Payout to Malley

Post by passedfc » Fri Jul 14, 2017 2:41 pm

These are not normal People !!!

theallseeingeye
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Re: Large Payout to Malley

Post by theallseeingeye » Fri Jul 14, 2017 7:33 pm

Grimace wrote:
Fri Jul 14, 2017 9:01 am
Why was Alex Malley paid out from his contract?
And at the same time, leaving CPA Australia with a massive black hole where a brand and marketing strategy called "Alex malley" used to be. Eight years of investment down the drain.

And yet, our remaining Board members can't see any reason why they should resign in embarrassment at these outcomes they presided over. Unbelievable.

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nakedadmin
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Re: Large Payout to Malley

Post by nakedadmin » Fri Jul 14, 2017 8:25 pm

Yeah they paid him out about 3 years in advance without even a thought about transitioning the strategy or salvaging anything from it.

I'm sure they wanted him out so that the independent review would not interview him.
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Stomper
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Re: Large Payout to Malley

Post by Stomper » Sat Jul 15, 2017 5:04 pm

nakedadmin wrote:
Fri Jul 14, 2017 8:25 pm
Yeah they paid him out about 3 years in advance without even a thought about transitioning the strategy or salvaging anything from it.

I'm sure they wanted him out so that the independent review would not interview him.
$4.9m buys a lot of silence!!!!

theallseeingeye
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Re: Large Payout to Malley

Post by theallseeingeye » Sat Jul 15, 2017 11:14 pm

nakedadmin wrote:
Fri Jul 14, 2017 8:25 pm
Yeah they paid him out about 3 years in advance without even a thought about transitioning the strategy or salvaging anything from it.
No, they thought about it, and unless there is some clear visible action soon - they lied about it.

I have been in the room with Malley and Wade TWICE when Malley put forward the defence that the strategy was to personalise the brand by putting him at the front of it, but don't worry folks, it's not a single point of failure because "there is a backup plan if I am hit by the proverbial bus". I haven't see any evidence of plan B yet !

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Brett Stevenson
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Re: Large Payout to Malley

Post by Brett Stevenson » Tue Jul 18, 2017 7:09 pm

I must admit I am of the more skeptical mind with this payout.
I think they should have shown him the door and then let him take them to court for any breach of contract provisions.
I would like to know why this was not done and just who gave the advice on the payout. When was any contract with him renewed and who were the members of the Nominations and Remunerations Committee, and Board, who approved such a contract.
This is something that I trust the Independent Panel will be reviewing closely and hopefully they will not b listening too much to the sales talk.
This really is an astronomical figure for the CEO of a professional membership organisation.
And the current board wonder why the membership are collecting votes to kick them out.
One week they express total confidence in the CEO, the next they give him the boot with a $4.9 million payout.
Who is being played for the fool here?
There needs to be some close investigation of a lot of things at CPA Australia but remuneration of board and senior management would have to be pretty high on the list I suggest.

deaneus
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Re: Large Payout to Malley

Post by deaneus » Tue Jul 18, 2017 9:21 pm

theallseeingeye wrote:
Sat Jul 15, 2017 11:14 pm
"there is a backup plan if I am hit by the proverbial bus"
Does it have to be proverbial?

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nakedadmin
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Re: Large Payout to Malley

Post by nakedadmin » Wed Jul 19, 2017 9:49 am

Brett Stevenson wrote:
Tue Jul 18, 2017 7:09 pm
I would like to know why this was not done and just who gave the advice on the payout.
I heard the advice for the payout was from Craig Laughton and he said they had to do it because Malley was somehow preventing them from discussing the issues. Apparently they had to get him out.
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Brett Stevenson
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Re: Large Payout to Malley

Post by Brett Stevenson » Wed Jul 19, 2017 8:42 pm

Just catching up and reading many of the members comments.
I reckon Grimace nailed it perfectly with the following comment
Why was Alex Malley paid out from his contract?

Any normal person (non c-suite) who gets fired only gets payment in lieu of notice and whatever annual leave they have accumulated. Getting a $4.9m golden handshake after getting fired is a disgrace. He should have been shown the door, paid the customary amount for getting fired, and told that if he want's more that we'll see him in court.

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