Labor says Hydro payouts ‘obscene’

Four departing Hydro Tasmania executives shared in $2.4 million according to an annual report. LATEST >>

HUGE termination payouts to departing Hydro Tasmania executives were “obscene” Labor said.

The government-owned business’ annual report reveals several executives who departed the business during 2020/21 did so with large golden handshakes.

Former chief operations officer Gerard Flack received $965,000 in termination benefits, former CEO Steve Davy received $669,000 and former chief strategy officer Andrew Catchpole received $542,000.

Acting Hydro CEO Ian Brooksbank warned staff on Wednesday that they payouts would make headlines and encouraged them not to discuss them.

Labor’s Dean Winter didn’t get that memo, saying that four executives from a government-owned business sharing $2.4m in golden handshakes was not a good look.

“It’s just disgraceful that these excessive amounts are being paid out to an elite group of executives just for exiting this organisation,” the Labor energy spokesman said.

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“Under the Liberals’ watch, the excess is obscene and will disgust Tasmanians.

“I defy the responsible Minister Guy Barnett to front Tasmanians and explain how these payments can be justified, including to one individual who received a golden handshake of $965,000 as he walked out the door.

“I challenge Mr Barnett to justify how another former employee walked away with $669,000.

“At the same time as this government allows this, Tasmania’s housing wait list has reached a historic high and thousands are stuck on the Liberal Government’s waiting list for elective surgery and dental work.

“At the same time families are struggling with basic cost of living and Hydro’s annual report has been released on the same day we learn that Tasmanians pay the most overall on energy bills of any state.

Don’t discuss our salaries Hydro CEO tells staff – Wednesday, October 27

HUGE termination payouts to departing Hydro Tasmania executives were “obscene” Labor said.

The government-owned business’ annual report reveals several executives who departed the business during 2020/21 did so with large golden handshakes.

Former chief operations officer Gerard Flack received $965,000 in termination benefits, former CEO Steve Davy received $669,000 and former chief strategy offies Andrew Catchpole received $542,000.

Acting Hydro CEO Ian Brooksbank warned staff on Wednesday that they payouts would make headlines and encouraged them not to discuss them.

Labor’s Dean Winter didn’t get that memo, saying that four executives from a government-owned business sharing $2.4m in golden handshakes was not a good look.

“It’s just disgraceful that these excessive amounts are being paid out to an elite group of executives just for exiting this organisation,” the Labor energy spokesman said.

“Under the Liberals’ watch, the excess is obscene and will disgust Tasmanians.

“I defy the responsible Minister Guy Barnett to front Tasmanians and explain how these payments can be justified, including to one individual who received a golden handshake of $965,000 as he walked out the door.

“I challenge Mr Barnett to justify how another former employee walked away with $669,000.

“At the same time as this government allows this, Tasmania’s housing wait list has reached a historic high and thousands are stuck on the Liberal Government’s waiting list for elective surgery and dental work.

“At the same time families are struggling with basic cost of living and Hydro’s annual report has been released on the same day we learn that Tasmanians pay the most overall on energy bills of any state.

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