From the AFR today comes John McGrath as he steps down as CEO:
…Mr McGrath has also taken a big pay cut. His annual remuneration in 2016 is $327,415, down 56 per cent from the $744,765 earned in 2015…Long-standing chief operating officer Geoff Lucas left the business in August while head of property management Maria Carlino left in March….Also leaving is chairman David Mackay, after just over a year in the role.
…”I forecast 6-8 per cent growth in Sydney house prices this year. We’ve seen the majority of that already so I see very little increase in prices going forward,” he said.
Mr McGrath estimated Chinese buyers numbers were down by half compared with a year ago.
Shareholders are a bitch!
