AGL boss Andy Vesey reveals how $500 led to a $6 million salary package

AGL boss Andy Vesey revealed yesterday that he took his first job at a power company 40 years ago because it was $500 more than what the US Navy was paying to become a submariner.

AGL chief executive Andy Vesey addresses a QUT Business Leaders’ Forum about corporate leadership and energy policy. Picture: Mark Cranitch

AGL boss Andy Vesey revealed yesterday that he took his first job at a power company 40 years ago because it was $500 more than what an engineering company was paying and what the US Navy was offering to become a submariner

“For the sake of $500 I would not be standing here talking to you today,” the plain-speaking New Yorker told the QUT Business Leaders’ Forum in Brisbane. “That is how my mind works.”

That revelation prompted a follow-up question from host Kerry O’Brien, who noted Vesey had been lured to the AGL job in 2015 by a $6 million plus salary package. “So are you saying you only came to Australia because they were offering you $500 extra,” O’Brien quipped. That was met by a sheepish “yep” from Vesey, whose generous remuneration has been criticised by shareholders.

Your diarist also ran into Vesey’s new public relations man, veteran journalist Mike Duffy, at yesterday’s event and noted he bears a remarkable resemblance to his boss.

While Vesey is older than Duffy, both are about the same height and build and sport stunningly shiny chrome domes, or bald heads. We hear photographers often start snapping photos of Duffy at AGL press conferences before realising they are targeting the wrong man. We also hear Duffy gets VIP treatment at the local cafe at AGL’s Sydney HQ when they mistake him for the top man.

KIWI FAN

YOUR diarist caught up yesterday with Stuart Kerr, New Zealand’s trade man in Brisbane, who admitted that he is actually a dinky-di Aussie and not a native of the Land of the Long White Cloud. Never mind, the local rep for New Zealand Trade & Enterprise (NZTE) tells us he loves working with Kiwis because of their down-to-earth manner.

The former Australian Industry Group (AiG) executive tells us that when he first joined the NZTE two years ago he promised he would stay until the Wallabies won the World Cup. “Sorry,” came the reply. “We can’t offer lifelong employment.”

GROUNDED

BAD news on the aviation front with local carrier JETGO announcing yesterday it had entered voluntary administration. City Beat flagged earlier this week that the Brisbane-based airline was experiencing some financial turbulence after a key Japanese investor pulled out.

JETGO says Jonathan McLeod and Bill Karageozis have been appointed as the administrators.

The company will continue limited charter operations but all scheduled services have been suspended for the duration of the administration.

JETGO, which operates a fleet of Embraer regional airliners, had scheduled flights to Townsville, Rockhampton, Dubbo, Wagga Wagga and other regional centres. In the interim Qantas has set up a hotline number for the company’s passengers to assist with cancelled flights and other flight options.

TOW GOES GLOBAL

TOW founder Dominic Holland says his company is about to become the first global towing operator.

The young Brisbane entrepreneur told your diarist at Wednesday night’s BDO/CCIQ Facebook Live business forum that the Tow platform would be launched in New Zealand this week followed by the US next week.

“We have spent a lot of time investing in our technology, and all the intricacies, so we are really excited about this expansion,” Holland says. “It is really important for Australian companies to think global.”

Founded in 2014, Tow uses a digital platform that automatically co-ordinates towing requests and dispatches trucks. Tow doesn’t own the trucks but uses subcontractors.