AUSTRALIA: Southcorp chairman defends A$7.8m Parks payout

By Tony Baker | 2 November 2001

Australian wine group Southcorp's chairman Rick Allert has spiritedly defended the A$7.8m (US$3.9m) payout package to its former chief executive Tom Parks after just five months in the job. Appointed to head one of Australia's big four wine groups with a five year contract, Park, last June, handed over to Keith Lambert who joined the company following the A$1.49 billion reverse takeover by Rosemount wines.

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Australian wine group Southcorp's chairman Rick Allert has spiritedly defended the A$7.8m (US$3.9m) payout package to its former chief executive Tom Parks after just five months in the job. Appointed to head one of Australia's big four wine groups with a five year contract, Park, last June, handed over to Keith Lambert who joined the company following the A$1.49 billion reverse takeover by Rosemount wines.

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