By Salma El-Sakka
Senior executives at Snowy Hydro collectively received bonuses worth $751,925 in the 2025-2026 financial year, even as the company’s flagship Snowy Hydro 2.0 project faces a cost blowout to as much as $25 billion and a completion delay until 2029.
Executive Bonuses Detailed
Chief financial officer Kim Josling received a $215,440 bonus on top of a $828,839 pay package. Chief operating officer Maia Schweizer earned a $255,570 bonus alongside a $1,050,503 base salary. Chief commercial officer Gordon Wymer took a $280,915 bonus with a $1,142,268 base salary. Chief executive Dennis Barnes, who has a base salary of $1,845,126, opted not to accept a cash bonus after recommending to the board that he receive no short-term incentive payment.
Project Cost Overruns
Snowy Hydro 2.0, first proposed in 2017 with a $2 billion price tag, has seen its estimated cost climb to $13 billion in 2023 and now up to $25 billion. The pumped hydro project in Kosciuszko National Park is not expected to be fully commissioned until 2029, a year later than the previous 2028 target. A company spokesperson said short-term incentives are based on performance outcomes across the business.
CSIRO Chief Also Receives Bonus
At the Commonwealth Scientific and Industrial Research Organisation (CSIRO), chief executive Doug Hilton received a $198,517 bonus on top of his $789,391 base salary. He was the only senior executive to receive a “salary at risk” payment, which the agency’s board determined based on key performance indicators.
Job Cuts at CSIRO
The bonus comes after CSIRO cut more than 1,100 jobs over the past two years, with separation and redundancy payments exceeding $27 million. The agency said its workforce size is now expected to remain stable, supported by additional federal budget funding.
