I can't deny that I was happy for him to head up the company...

I can't deny that I was happy for him to head up the company around November 2016.

My whole discussion about remuneration was, I believe, misinterpreted on these threads. I didn't talk about a pay increase. What I said was it is good for shareholders that a large chunk of remuneration pay is bonus related, don't meet targets then don't receive a bonus. That's what I was arguing. It seems many took the $1m plus remuneration package as a given when it simply wasn't a given and subsequently would not have been received - as the company did not meet its targets.

I also said he was underpaid (REM package) for a MD managing an international company comparable to his peers. His package was modest that cannot be denied. Whether he deserved it is a separate argument. An MDs package should be xxxx then the incumbent is either worthy of it or is not. With hindsight, based on performance, Mr Grech was not worthy of the MD position and therefore not worthy of the modest package.

It would be wrong to pay an MD of an international company, for example, $200k. That would suggest he is the wrong man.

You can say he is the wrong man but cannot say he was paid too much, in my view.