The Naked CEO stripped bare

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No doubt you’ve all been following this from the sidelines as rebels at the CPA have been abused then libeled but have now won their battle:

CPA Australia members, including a former board member, have called on CEO Alex Malley to stand down and for the entire board to be refreshed after Mr Malley’s “outrageous” $1.79 million pay was revealed.

CPA Australia has also revealed that two other board members, Richard Alston, who is also the Liberal Party president, and Richard Petty, will retire from the board “in the next few months” along with chairman Tyrone Carlin.

…The board justified the amounts involved by emphasising the growth of the organisation in terms of member numbers and revenue.

Marcia O’Neill, a fellow of the CPA who is a former board member and former Victorian divisional president, said Mr Malley’s pay packet was “outrageous” and that he had to resign for the sake of the organisation.

“It’s member’s money and this is about the integrity of my profession. I think the CEO should do the right thing and step aside so the organisation, the board and the executive, can be refreshed. I’m very sad that is that taken so long to do the right thing and disclose the remuneration to the members,” she said.

Time to account for oneself.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.