Poll: Should outgoing COO Greg Winn return his bonuses?
January 23, 2009
Telstra has announced this week that chief operations officer Greg Winn will leave the company to return to his US homeland after receiving almost $21 million in three and a half years . Last year, Winn pocketed performance bonuses of almost $9 million.
But let’s examine his track record: under his watch, Telstra has lurched from one crisis to another with the company’s much-heralded ‘transformation’ well behind schedule and the new Siebel IT system responsible for a growing tide of customer complaints.
He has been a key figure in the ongoing losses of thousands of jobs through retrenchments or off-shoring by Telstra. Unfortunately, long after Winn has returned to the US, Telstra employees will be left to clean up the mess left by his legacy.
Greg Winn received a whopping 26% increase to his fixed pay last year.
Meanwhile, Telstra employees are constantly told to batten down the hatches, accept pay offers that don’t keep pace with the cost of living, and are denied the right to collectively bargain.
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5 Responses to “Poll: Should outgoing COO Greg Winn return his bonuses?”
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Yeah Winn can now return home. He’s played his part in destroying a once great company. Burgess was just a fish out of water, one could use an American addage when commenting on the Burgess era as ‘you a long way from home boy’. But the Winn reign of terror was even more subversive and more aggressive.
Who will ever forget the venim in this man’s tongue when he spoke of taking employees and shooting them.
Who can forget the quite deliberate scuttling of the NBN bid.
Yeah Bugger Off! (Australian for Bon Voyage)
I want to know what the hell is wrong with an Aussie running an Aussie company? Why do they have to keep bringing in these foreigners?
Good old Ahh Sol visited us the other week to see how his wonderful Siebel system is working.
Do you know what they had waiting for him?
For the week prior, staff had been rehearsing calls for him to listen to, so he could see how well it worked.
Bloody disgusting!
He may actually be in the dark a little if they’re all doing that?
What a bunch of brown nosers!
Not a hope in hades of seeing any of that hard earned Aussie money again.
Be glad he’s gone, one of the three Amigos and good old Ahhh Sol are left to finish destroying Telstra, once a great Aussie company and a great place to work.
Now people are so stressed by the work load and treatment by management they dread going in that door of a morning; where I work anyway.
Staff are leaving in droves. Just what Ahhh Sol wants though, he’s still got 12,000 more of us to get rid of, hasn’t he?
If I wasn’t so bloody old I would march out of that door with them.
Goodbye Greg, good riddance, sorry to hear your wife is sick but go away and look after her. Just leave us alone…
By the way, isn’t he still on the payroll as a consultant?
Why do we insist on paying idiots rediculous amounts to wreck our companies. It seems the bigger the mess, the bigger the salary/ bonus package. How much was the bonus telstra workers received last year?
A ll these high bonus payments to top brass astound me when the share holders has been reeling all these years seeing the share price fall from $7.80 in 1999 to the present value of around $3.70. that is a drop of almost half of the value of telstra. Am I reading it correctly that after all the assurances the company is now worth only half the original value which runs into miilions of dollars! I have very little no of shares compared to other mums and dads who have invested heavily. Something has gone wrong somewhere people have been taken for a ride. Ten years down the road we have seen only declines in the value of share price.Who are responsible for this state of affairs and what of the future status . Can someone tell us in plain english, please.
This could be good news for Telstra.
Greg Winn appeared so short sighted (but aren’t most senior execs anyway?)
I remember when the iPhone was first announced and he rubbished it outright. He could have taken the iPhone baton on behalf of Telstra and run all the way to the bank. Instead he handed it to Optus and Vodafone, leaving Telstra as an also-ran.
You don’t want someone so negative about new technologies helping to run an IT company!