SYDNEY -Australia is likely be hit by a “data tsunami” in coming years, according to NBN Co CEO Bill MorrowThe Vertigan panel’s analysis used eyebrow-raising forecasts by an outfit called Communications Chambers which predicted that 50 per cent of Australians would need only 15 megabits per second in 2023 and that only 0.01 per cent of households would need 48 megabits per second or more.
NBN Co’s profitability could be at risk if the predictions come true and customers avoid buying the more expensive and higher speed products.Morrow said it was up to the Federal Government to change NBN technologies to match the forecasts.
“If they were to change that and lower [our speed requirements] then actually there would be some other opportunities to reduce the build that has yet to be done,” he said.
– Meanwhile a coterie of former senior executives has received almost $5.5 million in “termination benefits”. NBN figures show former CEO Mike Quigley, who donated his first year’s pay cheque to charity, received $1.6 million, a figure that included $193,266 in annual leave entitlements.
Incoming CEO Morrow is on a fixed remuneration of $2.3 million a year but could score another short-term incentive of $690,000 if he meets performance targets.
