What NZ CEOs are paid

It’s difficult to be positive about the obscene salaries these people receive. Especially in light of Rogernomics & the Neo-lib disaster that destroyed so many people. And continues to do so. Great idea for those at the top, not so for those at the bottom. Of course it was a scam & in my opinion never intended to benefit everybody. We can see who it is benefiting right in plain sight here.

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From the NZ Herald

Chief executives at New Zealand’s biggest companies got a 2.2 per cent pay rise last year, taking their average earnings to $1,755,352 in the 2017 financial year.

It was the second-smallest increase in the 13-year history of the Business Herald’s CEO pay survey.

The survey covers the top 50 companies listed on the sharemarket, with the exception of some property firms whose management structure makes it difficult to calculate CEO pay, and the addition of Fonterra because of its size, and Herald publisher NZME, included in the interests of transparency.

Fifteen executives experienced earnings declines last year, compared with nine recorded in the previous year’s survey. The 2.2 per cent average increase was the lowest on record, apart from 2011, when average CEO pay fell by 0.4 per cent.

While CEO earnings increases were modest compared to some previous years, 38 of the 50 chief executives in the survey still received more than $1 million in remuneration, and their average was 55 times the median annual income Kiwis received in that year, recorded at $31,928, according to Statistics NZ.

The average CEO increase was in line with the 2.3 per cent rise Kiwis received last year.

Former Fonterra boss Theo Spierings was the highest-paid executive last year. Spierings, who stepped down last month, received $8.3m for the 2017 financial year, up from $4.66m he received a year earlier.

READ MORE at the link (graphs & figures included)

https://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=12134854

 

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