Dr Tim Soutphommasane Race Discrimination Commissioner addressed the National Press Club in Canberra on Tuesday 7 July 2015. Photo: Andrew Meares Photo: Andrew MearesThe Singaporean investors behind alleged medicinal cannabis stock, Stem Cell United, have finally announced how they will reward the man – King of Cannabis, Nevil Schoenmakers – who has given the stock one hell of a high since it announced his appointment as a strategic adviser.
It is giving him 10 million shares, with escrow arrangements stretching from 90 days to 12 months, plus a $5,000 per month advisory fee.
The stock will give Schoenmakers a four per cent stake in the company.
But given the gyrations over the last week following the company’s announcement that it is hoping to enter the medicinal cannabis market – with Schoenmakers to guide them – what his stock would be worth a year from now is anybody’s guess.
The day before the announcement, his 10 million shares would have been worth $130,000. 40 hours later those shares would have peaked in value at $10.85 million.
The stock had another big fall on Monday, but Schoenmakers’ stake is still clinging to the million-plus mark. It could be a long, long year. No discrimination
CBD assumes Commonwealth bank boss Ian Narev will not be straying from the script when he hosts the Race Discrimination Commissioner, Tim Soutphommasane, on Tuesday for the launch of the Leadership Council on Cultural Diversity.
It will help celebrate the International Day for the Elimination of Racial Discrimination.
“The Council is an initiative that brings business leaders together to advocate for cultural diversity at senior levels,” says the blurb from Soutphommasane’s office.
Yes, like how about a few more Aussies running one of our Big Four banks for starters given Narev is one of two Kiwis who have claimed the top job in our biggest financial institutions.
But CBD could not help but note that Narev will be on a panel with openly gay author and journalist Benjamin Law.
What are the chances of Law posing a cheeky question on same sex marriage just to see if Immigration Minister Peter Dutton is listening in for any more bullying by our CEOs on this issue.
Even better, Law could ask fellow panelist and ABC boss, Michelle Guthrie, what her views are on this issue. That should go down well with the Libs. Off switch
It has been a bad start to the year for the female board members of our commercial TV operators.
No less than four women have left the boardrooms of the public companies which own Seven, Nine and Ten, starting with Sheila McGregor’s controversial exit from Seven West Media last month.
Nine Entertainment chairman Peter Costello has redressed the balance a little by appointing former Deloitte partner, Sam Lewis, to its modest board which will now have two women. Nine lost two female directors, Holly Kramer and Elizabeth Gaines to other commitments.
The Ten and Seven West boards are down to one woman each after recent resignations, with Siobhan McKenna leaving Ten last week for a full time role at Rupert Murdoch’s Foxtel.
And we still haven’t heard from McGregor who is keeping a very low profile after resigning just before Seven West announced the results of an investigation which cleared its CEO, Tim Worner, of wrongdoing over an affair with office staffer, Amber Harrison. AMPed up
What do you pay the man who presided over its first financial year loss at AMP since Saddam Hussein was running Iraq?
On the surface, it does not look like AMP chief, Craig Meller, has taken much of a hit. His full year remuneration of $4.8 million, is not far short of last year’s $5.28 million.
But the devil is always in the detail – like how much is he pocketing now and how much is still “at risk’ as they like to say.
Meller took home close to $3 million in salary and cash bonuses in 2015, compared with a $1.8 million last year.
What kept his remuneration at respectable levels last year were his share based payments which hit $2.8 million.
The good news is, these performance rights could be worth even more if the company is performing really, really well.
Boy would that be a surprise to its investors.
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This story Administrator ready to work first appeared on Nanjing Night Net.