Buswell can't unwind GESB chief pay rise

Treasurer Troy Buswell has admitted the state government has no power to unwind a $160,000 pay increase to the chief executive of government superannuation fund GESB, Michele Dolin.

Mr Buswell said he had expressed his strong opposition to the board-approved pay rise in a meeting late yesterday with GESB chairman Phil Harvey.

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Trevor Prestage
It is outrageous that any person should receive a $160,000 pay rise. The method used to calculate executive pay rises is flawed and needs a complete overhaul. All pay rises should be linked to shareholders or in this case the investment return. Investments deposited into fixed term bank accounts would have provided a safer and better return and without having to pay any executive salary. The value of individuals in such a large organisation has been grossly exaggerated. What value has she personally added to investors returns? It just doesn't work that way.

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