GOLDOC executives to receive huge bonuses just for staying in their Commonwealth Games jobs
GOLD Coast Commonwealth Games chairman Peter Beattie says fat ‘bonuses’ to be paid to key Games executives just for staying in the job aren’t bonuses at all - they’re ‘handcuffs’.
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GOLD Coast Commonwealth Games chairman Peter Beattie says fat ‘bonuses’ to be paid to key Games executives just for staying in the job aren’t bonuses at all - they’re ‘handcuffs’.
The Courier-Mail today revealed that five GOLDOC bosses, headed by chief executive officer Mark Peters, will pocket more than $650,000 in ‘retention payments’ now that the Games are over.
They will receive 10 per cent of their annual salary for every year of service.
But Mr Beattie has denied the huge payouts are bonuses and are ‘instead a pair of handcuffs’ to ensure Mr Peters and the other executives did not quit before the Games.
Mr Peters has earned more than $3 million since being appointed Games boss in 2012 and his ‘retention payment’ is expected to top $300,000.
“Payments to senior staff are not bonuses,” Mr Beattie said.
“It is a pair of handcuffs started under the LNP when Jann Stuckey was (Commonwealth Games) Minister.
“In the CEO’s case, there was an independent report recommending a pay-rise.
“This was rejected and instead part of his existing salary was retained to keep him until after the Games.
“The retention payment was approved by the current Government so has bipartisan support.”
Earlier today, Gold Coast Mayor Tom Tate slammed the bonuses as ‘staggering’ and said they would not pass the ‘pub test’.
“In fact, you could get the whole pub drunk on just one of the bonus pay outs,” he said.
Cr Tate said pressure would mount on the Palaszczuk Government to scrap the bonuses.
GOLDOC CHAIRMAN BEATTIE LEARNS 'LESSON OF HUMILITY'
OVERNIGHT: GOLD Coast Commonwealth Games executives are set to pocket fat bonuses totalling hundreds of thousands of dollars – just for staying in the job.
Five GOLDOC bosses including chief executive Mark Peters, who called spectators “lunatics” for expecting perfect public transport during the Games, will collect cash windfalls of more than $650,000 now that the mega-event is over.
They will receive the payouts despite Games bungles including the shambolic closing ceremony in which athletes were snubbed from the official broadcast, and admissions by organisers that they scared large numbers of people away from the Gold Coast with warnings of traffic chaos.
The lucrative bonuses are described in GOLDOC’s annual report as retention payments and are calculated on 10 per cent of each executive’s annual salary for every year of service.
The retention payments were introduced in 2013-14 by the GOLDOC board, chaired by former Queensland premier Peter Beattie, in a move aimed at stopping key executives leaving before the Games.
Mr Peters, appointed Games boss by the Bligh Government in 2012, had earned more than $2.6 million in the role up until last June and stands to be paid a retention bonuses of more than $300,000 once this year’s salary is taken into account.
His $543,000 pay packet last year included a base salary of $436,000 plus a $54,000 retention payment and another $53,000 in “post employment expenses”.
Prime Minister Malcolm Turnbull’s base salary is $527,000, plus allowances.
Mr Peters called Games spectators expecting perfect public transport lunatics after thousands trying to get to the opening ceremony were left stranded at Broadbeach tram station.
Along with Mr Beattie, he was also on the GOLDOC board subcommittee in charge of the widely-panned opening and closing ceremonies.
Deputy chief executive Brian Nourse, whose base salary last year was $302,000, stands to collect a retention payment of more than $100,000.
GOLDOC’s commercial boss Cameron Murray, who was on $301,000 last year, and general manager of finance and business, Helen More ($270,000 annual salary), are also in line for a $100,000 bonus.
Sport and operations manager Nancy Romano, whose base salary last year was $138,000, will also collect a five-figure bonus after just over a year in the job.
Opposition Leader Deb Frecklington said the bonuses were outrageous and should be scrapped.
“To quote Mark Peters, Annastacia Palaszczuk would be a ‘lunatic’ for letting these outrageous bonuses go through,” she said.
“They were supposed to encourage good performance, not reward bad behaviour.
“The athletes were the stars of the Games but they were robbed of the fitting tribute that should have taken place during the closing ceremony.
“If Annastacia Palaszczuk was serious about the closing ceremony debacle, then she’d take some responsibility and stop GOLDOC executive bonuses.”
GOLDOC refused to comment, referring The Courier-Mail to its annual report.
Originally published as GOLDOC executives to receive huge bonuses just for staying in their Commonwealth Games jobs
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