Australian executives don’t deserve big bonuses. It’s time to end the cult of the CEO

‘The idea, supposedly, is that when the company does well, or badly, the managers should share in the gains – or losses. As the Optus and CSL examples show, however, this commonly works only one way.’ Photograph: Hollie Adams/Reuters

The news that companies including CSL and Optus, which pay no company tax in Australia, have awarded massive bonuses to their chief executives raises a question. If their tax returns are to be believed, these companies are making losses. So why do their CEOs deserve a bonus?

That’s the obvious question. But there are plenty more to ask – not just about bonuses but about privatisation.