Commentators enthuse at AGM

What do you TUANZ, Federated Farmers, and Business NZ have in common?Representatives from these three organisations appeared on a special video played at the Telecom AGM, enthusing about the company’s progress.Chairman Wayne Boyd told the meeting that the video would never be played anywhere else and that it featured customers and commentators “some of whom you might know.”First up on the video – entitled “Our Big Year” – was TUANZ CEO Ernie Newman, followed by chair of the Telecommunications Disputes Resolution scheme David Russell, both of whom remarked on the transformation of Telecom. Later Business NZ Phil CEO Phil O’Reilly gave Telecom a rating of seven out of ten. There were also endorsements from Mainfreight, Harcourts and Federated Farmers.The video was played after Telecom Chairman Wayne Boyd strongly defended CEO Paul Reynold’s annual salary. He told the meeting it was made up of long and short term performance based incentives, all of which were clearly outlined by the company when Reynold’s was appointed two years ago.He had said company was 18 months into a five-year strategy that would secure the long-term future of the company. He described the current transformation as the most “dramatic and far reaching in Telecom’s history.”