Key facts
- Telstra CEO Vicki Brady's total compensation for the year ending June was $6.8 million.
- This is a $700,000 increase from the prior year's $6.1 million.
- The board reduced Brady's bonus by $607,000 due to a July nationwide network outage.
- The outage impacted nearly half of Telstra's calls and data sessions.
- Telstra's profits increased to $2.4 billion from $2.3 billion year-over-year.
- Employee numbers decreased by 1,219 to 29,334.
Telstra CEO Vicki Brady received a total compensation of $6.8 million for the year ending June, marking a $700,000 increase from the previous year. This comes despite the company's decision to dock 20% of her bonus, equivalent to $607,000, following a nationwide network outage in July that affected nearly half of its calls and data sessions.
Brady acknowledged the outage, stating Telstra had "let our customers down" and taken full accountability. The company is still assessing customer compensation claims, with nearly $1 million already paid out to eligible customers. Regulatory outcomes and financial implications from the outage remain uncertain.
In addition to the CEO's bonus reduction, other senior executives also saw pay cuts, totaling $1.3 million collectively. Telstra reported a profit of $2.4 billion for the year, up from $2.3 billion previously, and paid a dividend of 21 cents per share. The company also reduced its workforce by 1,219 employees, bringing the total to 29,334.
Despite price increases on mobile plans, Telstra sold an additional 1 million mobile plans, bringing its total services in operation to 26 million. However, the company's share price fell in early trading, reducing its market value by $1.4 billion to $54.3 billion.