\u201cWhat about those gouging so-and-sos at AGL?\u201d Penbo said on Thursday morning.<\/p>\n
\u201cThere is absolutely no excuse for AGL jacking up their bills.\u201d<\/p>\n
AGL\u2019s 10 per cent price hike comes despite inflation running at only two per cent.<\/p>\n
\u201cIf you want a sense of why the company might be so desperately out of touch with the average person, we\u2019ve done a bit of work looking at the CEO,\u201d said Penbo (audio below \u2013 10:32).<\/p>\n
Andrew Vesey, 60, was imported from the US to run AGL in 2014 on a base salary of $1.9m, and was given AGL shares worth $970,000 when they were issued.<\/p>\n
\u201cIt helps explain why he was so keen to get on the plane to come to Australia,\u201d Penbo said.<\/p>\n
\u201cHe was also given another $1m payment to reimburse him for the loss of access to incentive payments that he was entitled to at his old employer.<\/p>\n
\u201cAnd on top of that he\u2019s eligible for annual and repeated bonuses throughout the year.\u201d<\/p>\n
\u201cIf you\u2019re earning that much money, it is easy to understand why you are so desperately out of touch with the normal person.\u201d<\/p>\n
Last year AGL made a $375m profit and is on track to make $720m this year. <\/p>\n
\u201cIt\u2019s hard to imagine a more disgusting attack on the average family.\u201d<\/p>\n