WHS - Warehouse Group

THE KING says there will always be FIVE Kings in the World,, Four in the Playing cards and one in the BRITISH EMPIRE.. [^][^][^]

[Gryffyn]

More royal ramblings. More failure to address two simple points that have been made. It would appread that WE ARE NOT AMUSED.

THE KING says THANKS.. [^][^][^][^]

[Gryffyn]

You're welcome Fridays are a bit slow and it's good to have the court jester prancing around making a fool of himself to entertain us.

I'd have said "pull the other it has bells on" but actually it's the joker - 3 in the world, 2 in a pack of cards and one here on ST that has them

If you get around to explaining:
1. why they didn't keep the price up at over $5

or

2. why WHS isn't a good buy if it is being supported above $4

then I'll take you more seriously, but right now your posts have as much relevency as the monarchy does.

THE KING says yet again THANKS... [^][^][^][^]

[trendy]

Mr King....as another ex Paraparaumu resident you have disappointed me.

THE KING says SORRY... [^][^][^][^]

[duncan macgregor]

BAD sign guys company share price dropping management pay hikes. MACDUNK

[Gryffyn]

Yes but I think the biggest hike was due to Tindall taking the helm, i.e. that amount would have been paid the the CEO if he'd stayed.

Other mgmt got less based on performance I note.

[Gryffyn]

Tindall's pay soars for taking the reins
05 November 2004
By ANNA JAQUIERY

Stephen Tindall, the founder of The Warehouse, nearly tripled his annual salary in 2004 to $594,000.


But someone at the discount retailer, probably former chief executive Greg Muir, was paid more than $1.7 million in the past year.

As acting managing director of The Warehouse group, Mr Tindall saw his salary go from $200,000 in 2003, to $594,000 in 2004.

According to the company's annual report, one employee's remuneration and other benefits amounted to between $1.77 million and $1.78 million.

The Warehouse declined to name that person.

Mr Muir, who left The Warehouse in July 2003 after handing in his resignation, declined to say if he was the recipient.

Mr Tindall's increase was granted after he took on the interim role in May 2003. He consequently became a non-executive director, and as such, gave up his director's fees, Warehouse spokesman Phil Jamieson said. The remuneration committee decided to raise his salary. The increase was temporary, and would not be maintained now that Mr Tindall had stepped down.

AdvertisementAdvertisementIan Morrice has become managing director and chief executive. Mr Tindall will remain on the board as non-executive director.

The annual report showed that Peter Glen Inger, who heads The Warehouse New Zealand, saw his salary fall slightly, from $547,000 to $534,000 between 2003 and 2004. Both Mr Tindall and Mr Inger were non-executive directors of the group.

Mr Tindall was also the company's largest shareholder in 2004, holding 84,358,283 ordinary shares on August 1, or 27.61 per cent of the company.

The second-biggest shareholder was the Tindall Foundation, set up in 1995 by Mr Tindall and his wife Margaret. The foundation held 66,323,220 ordinary shares, or 21.71 per cent of the group.

In September, The Warehouse reported widening losses in Australia and said it was scaling back its expansion there. Losses in Australia tripled to A$32 million, from A$11 million in the previous financial year. This was in line with the company's expectations.

The group's shares have fallen 50 cents, or 12 per cent in the past two months, to $4.13.

Mr Morrice was named managing director and chief executive in August and took up his position on October 1.