How do you become the CEO of Telecom?

Just been browsing the internet and came across this fella - like me he is Scottish, unlike me he has a doctorate in Geology (well, I have a Masters, but not in Geology). His name is Paul Reynolds and he is the CEO of Telecom. Not really a very bad job - he gets a mere $7 million per year, 17 times your average MP, and probably quite a bit more than the sub $50K that is the average wage.

So how do you get a job like that? I don't mind being their CEO, indeed I wouldn't mind just being a director - look what they get!

During the year ended 30 June 2010, the fees paid to non-executive directors were as follows:

• For the Chairman NZ$435,000;
• For each non-executive director NZ$145,000;
• For the chairman of each of the Audit and Risk Management Committee and Human Resources and Compensation Committee, and Nominations and Corporate Governance Committee (if a different person than the chairman of the board) NZ$30,000; and
• For each member of a board committee NZ$15,000 (excluding the chairman and those persons who chair a committee).*
• For the Telecom board representative appointed to the Independent Oversight Group NZ$30,000.

*No more than one amount for membership of a Board Committee will be paid where a director is a member of more than one Committee.

Unreal - $435K for being the chairman and attending meetings - gees, I could do that!! Obviously there is a catch

No superannuation was paid to any director for the financial year ended 30 June 2010.

Poor directors losing a perk there!

So exactly how do you become a director - does anyone 'ordinary' actually know?