No it’s not, that's tiny for a CEO. That's only half his annual salary, that's not a lot.
When Tony Gibson quit the Ports of Auckland, he was on $820,000 a year, which is not that much more than the boss of Kāinga Ora - he got a pay-out of about $1 million.
When Kevin Kenrick left TVNZ, he was on a salary of $560,000. That's less than the boss of Kāinga Ora and he got a pay-out of $2 million.
Now it's not always apples and apples and I concede that, because there will be all kinds of weird little payments like holiday pay and bonuses and stuff like that in there.
But the point I'm trying to make is that a payout for a CEO of only half their salary is us getting away lightly to get rid of the guy.
And that is obviously what happened. It's pretty clear he didn't decide he wanted to quit, the new chair Simon Moutter sat down with him and clearly told him to quit - Simon didn’t even try to deny that when he was on the show with us last night.
If you’re basically going to fire someone at CEO level, this is small change to get the job done.
Now, as for this nonsense about him being given redundancy because the scope of his job had changed - that's just BS. That's just the technicality they’ve used to get rid of the guy.
Because he had to go. He ran an organisation that refused to evict thugs, that ran up huge amounts of debt, that that bid and paid way more than market value for property and frankly lost the confidence of the public.
I don't want to be spending nearly $400,000 of taxpayer money on something like this, but to get rid of a CEO who needs to go, I reckon we got away lightly.
Heather du Plessis-Allan is a journalist and commentator who hosts Newstalk ZB's Drive show HERE - where this article was sourced.
4 comments:
if he had been paid on the basis of number of trarditional state houses (with cosy easy to heat rooms) bulldozed and into landfill in recent years he would have got vastly more.
'He ran an organisation that refused to evict thugs, that ran up huge amounts of debt, that that bid and paid way more than market value for property'.
No Heather, he ran nothing..... He just away when he was found out to be a failure that survived courtesy of the Ardern regime that would not take any accountability or control.
The booting of one who from name is presumably tarce maori shows promise. where will it end? RNZ could be agin tolerable fro informd intelligent viewres. Even the pleb accents might improve.
Why are people trying to justify paying a small fortune for someone to quit their job when their performance was so dismal that they should've been managed out of it?
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