Online book retailer, Booktopia (ASX:BKG):
[appointed] David Nenke as the company’s new CEO.
Replacing Acting CEO Geoff Stalley who replaced founder Tony Nash after he was ousted last July.
Speaking of Tony Tash. Booktopia also announced:
that an entity assosciated with former CEO and Booktopia founder, Tony Nash, Tachyon Venture Pty Ltd today entered into a short-term consultancy agreement with Booktopia
It should be noted that Nash is a non-executive director of Booktopia.
Tachyon Ventures will be paid a consulting fee of $2,500 gross per day for a maximum of 3 days per week
The short-term agreement lasts exactly 1-year, or otherwise known as: a $390,000 golden parashoot for former CEO.
Meanwhile, Nenke’s pocketing:
$500,000 per annum
With another $1,000,000 in short- and long-term incentives.