Ports Corp CEO earns more than PM ‘ScoMo’
THE CEO of Gladstone Ports Corporation earned more than Prime Minister Scott Morrison over the last year after a $131,000 pay rise brought his wage to $585,000.
“ScoMo” earns $549,250, excluding other benefits.
The Queensland Government remuneration handbook reveals Premier Annastacia Palaszczuk is paid $399,955, while as a Minister, Gladstone MP Glenn Butcher earns $327,705.
Gladstone Ports Corporation’s annual report details all wages of executives and board members until June 30 this year.
After acting in the role of CEO for almost two years, Craig Walker tops the list, earning $585,000 annually.
Under details of Mr Walker’s wage, the annual report stated “Appointed Acting from 13 December 2018.
“No Acting Port Strategy and Development General Manager has been appointed whilst C Walker is acting as CEO.”
People, Community and Sustainability general manager Rowen Winsor, who got a pay rise of $32,000 in 2020, earns $349,000.
Operations general manager Ged Melrose, who is also acting in his position, earned $326,000 in 2020.
“Appointed Acting from 13 May 2019,” the annual report said.
Jason Cooney, who resigned as Commercial general manager on March 6 this year, and according to his LinkedIn profile is now Hills Health general manager finance in Melbourne, earned $462,000, which included a resignation payout of $152,000.
Former acting Asset Management and Project Services General Manager Ben Hayden, who according to LinkedIn now is AGL’s Head of Asset Standards, earned $248,000 in 2020, after resigning on March 27.
In 2020, executives wages totalled $1.97 million.
These salaries pale in comparison to those of private sector executives, some of whom earn more than $10 million annually.
The major difference being, taxpayer dollars pay the wages of GPC executives and politicians, while those in the private sector are paid by company revenue.
This was a drop from the 2019 figure of $2.701 million, after the resignations of general managers Michael Galt ($371,000), Dennis Zimmerlie ($293,000), Allan Brown who resigned in July 2018 ($57,000) and former CEO Peter O’Sullivan ($567,000).
Mr O’Sullivan was terminated by the board on May 20, 2019, following a Crime and Corruption Commission Investigation.
Board members renumeration varies from $20,000 to $91,000.
Chairman Peter Corones renumeration increased by $12,000 in 2020 to $91,000.
Grant Cassidy was paid $60,000.
Board members Peta Jamieson, Adrienne Ward and Stewart Butel earned $59,000.
Gail Davidson, whose tenure ended on September 30, was paid $55,000.
Now a non-executive director at South East Queensland Water according to LinkedIn, Marita Corbett, who finished on 30 September 2019, was paid $20,000.
As a Queensland Government owned corporation, the GPC has a responsibility to its shareholders, the state’s taxpayers, to operate efficiently and provide the maximum investment return to shareholders for its operating costs.
The GPC’s values state: “We are focused on facilitating prosperity for others that trade through our Ports.
“Through our efforts, our customers, shareholders and ourselves will benefit.
“We will not take for granted what has been created, we will not let it slip, we are united in maximising the region’s prosperity.”
A GPC spokeswoman said each year government-owned Corporations including Gladstone Ports Corporation (GPC) published annual reports, which disclosed remuneration and expenses for key management personnel including directors and senior executives.
“Consistent with normal practice regarding the privacy of individuals, GPC does not disclose details of specific employment conditions for individual employees, including senior executives,” the spokeswoman said.
“During the course of the last two financial years, several members of the executive management team were accountable for additional portfolio responsibilities to deliver record performance and maintain continuity for the Corporation, with prosperity for the community, and the State of Queensland.
“GPC is a large, complex and critically important business providing essential port-related services to several large and small customers, both domestically and internationally, whilst also serving the needs of its local and State community stakeholders.
“As a regionally located port infrastructure business with assets exceeding $2.4 billion, it is important GPC has competent senior executive’s paid appropriate executive
remuneration, ensuring our port is run to the highest standard.”
The Observer asked why Mr Walker had been “acting” as CEO for almost two years and not officially appointed.
“Like any organisation, acting arrangements are necessary while comprehensive recruitment processes are underway,” the spokeswoman said.
“GPC is resolute in supporting our Executive under Craig Walker’s leadership based on the Corporation’s solid performance delivering strong financial results and a record operating dividend for the second year in a row in 2020, delivering $79.6m to Queenslanders for use on servicing Queensland’s needs – 10 per cent better than budgeted.”