ACTU Secretary Greg Combet has described a $10 million pay out to disgraced James Hardie Executives Peter Macdonald and Peter Shafron as disgusting and outrageous.
Mr Combet said:
This is utterly disgusting and obscene.
Peter Macdonald and Peter Shafron played pivotal roles in removing assets from the claims of Australian asbestos victims.
I think the Australian community will be rightly disgusted at these payouts.
At the very time when Australian asbestos victims are fighting for their right to just compensation from James Hardie, these two disgraced executives are to receive close to $10 million in payouts from the company plus bonuses and share options.
“That money should be immediately returned to victims. It should be donated to the asbestos compensation foundation so that it can go to asbestos victims.
That is what the community would expect and it is the only decent thing for Mr Macdonald, Mr Shafron and James Hardie to do.
We will be examining any way in which these two executives might be held to be personally liable so that this money can be returned to the asbestos victims who rightly deserve it.
James Hardie announced the payouts today following the resignation from the company of CEO Mr Macdonald and CFO Mr Shafron.