Senate debates
Thursday, 12 March 2009
Executive Remuneration
10:04 am
Bob Brown (Tasmania, Australian Greens) Share this | Link to this | Hansard source
I move:
- That the Senate—
- (a)
- supports the measures to address the excesses of executives in the United States of America proposed by President Obama which include:
- (i)
- a $500,000 salary cap for executives of companies which have received financial support from the government,
- (ii)
- a limit on executive compensation packages to be in restricted stock that will not vest until taxpayers are reimbursed,
- (iii)
- tougher restrictions on ‘golden parachute’ severance payments, particularly on banks, and
- (iv)
- new transparency rules on corporate jets, office renovations and entertainment which require companies to publicise large expenditures; and
- (b)
- calls on the Government to introduce similar measures in Australia.
Question put.