The Transport Workers’ Union is calling on Transurban CEO Scott Charlton to sacrifice his multi-million-dollar bonus for the 2021-22 financial year, following a revolt from Transurban shareholders.
The call from the union comes after more than 25% of Transurban’s shareholders voted against the company’s remuneration report on Thursday – resulting in a ‘strike’ against the company – with Mr Charlton’s excessive pay and bonuses being the key concern.
TWU NSW/QLD State Secretary Richard Olsen said that the vote made it clear that the days of Scott Charlton pocketing obscene amounts of money from drivers in Sydney and Brisbane must come to an end.
“Drivers across Sydney and Brisbane are paying sky-high tolls that go up every 3 months, and they’re furious that those tolls are lining Scott Charlton’s pockets with millions of dollars in bonuses” Mr Olsen said.
“More than 25% of Transurban’s own shareholders voted against Mr Charlton’s multi-million-dollar bonuses – and you can bet if the people actually paying these tolls got a vote, then that number would be 100%.”
“It’s bad enough that Sydney is the most tolled city on Earth, but because of the NSW Government’s sweetheart deals to privatise toll roads that money is being spent on massive executive bonuses over the next 40 years rather than government services.”
“Transurban’s shareholders have sent a message loud and clear to Scott Charlton – no more obscene bonuses funded out of the pockets of Sydney’s drivers.”
Mr Charlton was paid $5.5 million in 2020-21, including $2.7 million worth of bonuses. By comparison, Mr Charlton was paid approximately $4.5 million in 2019-20 with bonuses of around $2.3 million.
Under the Corporations Act 2001, if Transurban records a second strike at its AGM next year, a vote to spill the board will be automatically triggered.
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