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.

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.

As Telecom partnered the Government in high-speed broadband network initiatives, it went up a cent to 200. It will be separating its network from the rest of its business. Telecom Chief Executive Paul Reynolds said, "This would be a significant event for our company and would radically transform the telecommunications sector in New Zealand".

In view of the frequent failures of the XT network, the Shareholder Activist, Bruce Sheppard has expressed a strong disagreement with the $3 million bonus to be bagged by Paul Reynolds, Telecom's CEO.
He has warned to move a motion at the Telecom annual general meeting, in October, to sack the entire board if the bonus amount remains uncut.

In light of failure of as many as four major networks in a mere 2 months, two managers have already lost their jobs, but Telecom Chief Executive Paul Reynolds is fiercely determined that he will not become the third one.

Today, Dr. Reynolds came face to face with the public to stress "enough is enough" after the XT mobile network in the south of Taupo managed to go down again yesterday evening.