Former CPA Australia chief executive Alex Malley says he was well compensated to be successful.
In a defence of his performance, he says: “I did what I was asked to do, I did it well and I was compensated.”
Malley, who resigned after a backlash from members of the professional accountancy body, was speaking on the ABC’s News Breakfast show.
An independent review of the operations of CPA Australia described Malley’s pay as excessive for a member-based organisation.
His base pay of $1.77 million was well above benchmarks for similar roles, the review says. Another 30% on top of that was paid as a bonus.
When he departed, he was paid $4.9 million, about three years salary.
However, Malley told the ABC: “I don’t think we can have a world that apologises for being successful.”
The Financial Review has more here.