CBA supremo and expatriate kiwi Sir Ralph Norris is reportedly “enthusiastic” about CBA’s prospects. Given that this revelation has come just a few days after details of his 75% pay rise (to $16m) were made public, I would have hoped for something a bit more expansive. In fact, as a CBA shareholder* I demand it. Surely something like Tom-Cruise-on-Oprah wouldn’t be amiss.
I can’t help thinking that this may change the Snout/Trough picture next year. Believe it or not, CBA’s recently released 2010 annual report shows a decrease in the size of its remuneration report – a meagre 19 pages (down from 21 last year) which constituted just 67% of the total directors’ report (2009: 75%). Any bets on how many pages the 2011 remuneration report will have? They have a long way to go to catch Macquarie (60 pages!) but you have to start somewhere. See the other 2009 Snout/Trough numbers here.
* Disclaimer: the Weatherman owns CBA stock and (in contrast to much of his portfolio) is not too embarrassed to admit to it.
