TradeSignalosSnowy Hydro 2.0 executives receive $751,925 in bonuses despite cost overrun
Executives at Snowy Hydro, the New South Wales renewable energy company, received bonuses totalling $751,925 in the last financial year, according to annual reports. The bonuses were paid even though the renewable energy project's cost rose to 12 times its original estimate. Guardian Australia reports that chief executive Dennis Barnes, whose base salary is $1,845,126, chose not to accept the extra cash. The reports also show that the chief of CSIRO received an extra $200,000.
📊 What it means for markets
News about executive pay and project overruns is usually company-specific and has little direct effect on broad markets. It may matter for investors in Snowy Hydro or for debate over public infrastructure spending in Australia.
Source: The Guardian
Trade the news with signals
Gold, Forex, crypto and indices — entry, stop and targets from our tested indicators.
Latest news
- How 'the girl of 100 portraits' inspired two books
- Six killed in Kraków market square shooting; three more found at suspect's home
- Earthquake hits central Japan, injuring more than 20 people
- Small plane clips truck in emergency landing on Florida road
- Dana White says he will meet Trump on Monday over press secretary offer