For Waikato Telecom Chief Executive Paul Reynolds, last night was a busy one as he was busy with his company shareholders in assuring them that demerger plan would not spoil the services, and would lead to faster internet speed and the local phone calls would be a free service.

Jason Paris, former Chief Executive of Media Works Television, has succeeded to make his position in the Telecom's senior management team where he will be serving in the capacity of Chief Marketing Officer. Earlier in June, Jason Paris had resigned from Media Works and will start his inning at Telecom from September 19.

Though pay dips, rocketing bonus covers it all. It has been reported that Telecom Chief Executive Mr. Paul Reynolds has been paid $2.1 million less than his 2009/10 financial year figure for the 12 months of his work ended June 30.

New Zealand's Telecom Chief Executive Paul Reynolds received a huge pay amount during the last fiscal year, as his total earning went up to $5.2 million.

This payment included his annual salary, bonuses due to exceptional performance and other remunerations, including travelling and accommodation charges in that particular year.

The Telecom has notified a meager net profit of $166m whereas its shares were observed to gain a hike of 11.5 cents to $2.72 in a falling market. However, Telecom's after-tax profit rolled down by 56.5% from $382 million to $166 million, for the year to June 30. Simultaneously, the revenue was observed almost 3% down to $5.12 billion whereas earnings before interest, tax, amortization and depreciation (ebitda) declined 15.5% to $1.49 billon.

Telecom has placed its dividend re- outlay intend on confine for the reason that of qualms neighboring the Government's mega fast broadband proposal. Investors will not have the alternative of preceding its periodical 3.5 dividend, outstanding to be remunerated on 3rd December and Telecom shall not give out and buy-back equities in array of the dividend.