13 Nov CEOs TAKE A PANDEMIC PAY CUT; TRANSFORMATION, THE PANDEMIC’S “IT” WORD
Welcome to this week’s business and media intelligence update, with insights collected over the past seven days by the Cannings team.
EXECUTIVE PAY – CEOs TAKE A PANDEMIC PAY CUT
- Australian chief executives took a sizeable pay cut this year, with The AFR’s annual CEO pay survey showing a drop of 3.1 per cent in pay for the top 50. Annual bonuses fell by 24 per cent but long-term incentives increased by 4.9 per cent.
UNREALISTIC EXPECTATIONS? LESSONS FROM THE CARTIER WATCH AFFAIR
- The Cartier watch scandal at Australia Post has left senior corporate figures pointing fingers at politicians and the boards of government-owned businesses for having “unrealistic expectations” of what they can expect from executives poached from the corporate sector. AFR columnist Karen Maley sums it up: “If they want to appoint executives with strong commercial experience, they must accept they may not be as politically astute as those working in the public service.”
TRANSFORMATION, THE PANDEMIC’S “IT” WORD
- Transformation is one of the most overused terms in business, but in order to thrive in the next normal, McKinsey & Company says companies need to undergo “real transformations”, the kind that alters the way a business operates on a cellular level. Read the key elements of transformation and how making the right moves now can pay off in the coming years.
A SHORT HISTORY OF DEFEAT
- In light of US presidential election, The Economist looks into the cool clear beauty of defeat. In triumph, most of us stick to the script, but it’s defeat that comes with a greater repertoire of responses. It is how we respond that reveals us. Read more here.
WHAT WAS THAT AGAIN?
- The televised response by Fox News anchor Sandra Smith to comments by a pro-Trump guest has gone viral. Further proof of just how important body language is when the camera is on you. Watch the moment here.
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