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QUEENSLAND Rail’s board is yet to decide whether to lift a two-year freeze on millions of dollars in executive bonuses weeks after the payments are usually dealt with.
QR last month told The Courier-Mail a decision on whether to pay out $7.3 million in executive bonuses was yet to be made by the board, which would meet by October 31.
It refused to provide the meeting date and board chair David Marchant did not return calls.
The board is responsible for approving bonuses and advising QR’s shareholding ministers, who can veto the payments via a ministerial direction.
A QR spokesman told the newspaper late on October 31 that the board had met but the 2018-19 bonuses were still to be determined. There was no change as of yesterday.
The decision is weeks behind previous years, when bonuses were decided in early to mid-October.
Bonuses are traditionally a vexing issue for QR’s board caught in the tug-of-war between public expectations and corporate key performance measures written into contracts.
They have been frozen for the past two years due to the ongoing train driver shortage.
QR’s board and shareholding ministers first agreed to cancel bonuses for 2016-17 after criticism a year earlier about the money hitting executives’ bank accounts the month ‘Rail Fail’ struck.
This article first appeared on www.couriermail.com.au
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