Netbank outages drive exec pay down

Commonwealth Bank has cut the pay of its senior IT staff because outages to the bank’s internet banking system has angered its customers.

The netbank website was down during two critical days in June due to a high level of web traffic, causing speculation that the site had fallen prey to a large-scale ‘denial of service' attack by hackers.

Commonwealth’s chief information officer, Michael Harte, who took home $2.8 million for the financial year ending in June, has taken an undisclosed pay cut as a result of the problems.

Source: The Australian