Millions paid out to NBN top brass

THE man in charge of the National Broadband Network has received a $1.2m bonus, with the five executives who served all of the last financial year on his leadership team each taking home a pay packet of than $1m.

The millionaire executives of the government-owned business are now under fire from Labor, which has accused them of being “out of touch” and changing their targets so they are met.

While public servants have had their pay frozen during the pandemic, NBN Co chief executive Stephen Rue (pictured) earned $3.1m overall in 2020-21, a massive $540,000 pay rise.

Chief customer officer for business Paul Tyler was paid $1.3m, including $435,104 in incentives, before he left the business in a restructure that is cutting 800 jobs.

A total of f $11.4m was paid to NBN Co executives in the last financial year, including $2.9m in bonuses, up from $2.1m the year before.

Dr Ziggy Switkowski, NBN Co’s chairman and head of its remuneration committee, said it was a “standout year”, as the completion of the initial network build meant 99 per cent of households and businesses could connect while “positive satisfaction” trends among customers were recorded.

The board decided not to increase the base pay of NBN Co staff but paid out 95 per cent of maximum incentives available.

Opposition communications spokeswoman Michelle Rowland hit out at the generous incentives.

“Cost blowouts, fake targets, and technology backflips — what exactly are taxpayers rewarding other than Liberal spin and incompetence?” she said.