Covid-19: Which CEOs are taking pay cuts and which aren't?

Christchurch City Council. Photo: Geoff Sloan
Christchurch City Council. Photo: Geoff Sloan
Dawn Baxendale – Christchurch City Council: Baxendale has taken a 10 per cent pay cut for the 2020-21 financial year, which will see her $495,000 salary reduced by $50,000.  Baxendale said it was the right thing to do on a “personal level” as ratepayers and the city council’s finances, as well those of its council-controlled organisations, have been severely impacted by the Covid-19 lockdown.

Joanna Norris – Christchurch NZ: Christchurch NZ has suffered revenue declines off the back of the Covid-19 outbreak, which is why Norris and other board staff have agreed to take a 20 per cent pay cuts for the next six months. In the 2018-2019 financial year, the most recent information available, Norris was paid in the $335,000 to $339,000 range.

Paul Munro – Christchurch City Holdings Ltd: Munro has cut his wages by 20 per cent for the next six months. He received a base salary of $365,570 for the 2019 financial year. Munro and CCHL board staff made the voluntary decision to take pay cuts in recognising the effects Covid-19 will have on its shareholder, the city council, and the wider community.

Onno Mulder – CityCare: Mulder saw his pay reduced by 20 per cent from the beginning of the alert level 4 lockdown on March 26 until April 20. He has since returned to full pay, which was $574,000 in 2018/2019. CityCare’s board of directors, all management, administration and supervisory staff were on an 80 per cent salary during lockdown but continued to work full-time, mostly from home.

Rob Hall – Development Christchurch: Hall has not yet taken a pay cut from his salary, which was $313,944 in 2019. However, he has approached the DCL board to see if they would be open to reducing management team salaries, including his own, and is awaiting specific direction.

David Meates – Canterbury District Health Board: Meates has not reduced his salary. However, CDHB is considering guidance on making pay restraints. Meates has responsibility for both the CDHB and the West Coast District Health Board and was paid $613,000 in the financial year from July 2018 to June 2019.

Roger Gray – Lyttelton Port Company: Gray will not be reducing his salary as LPC does not expect a severe financial impact on business. Gray will continue to earn $638,000 with the possibility of earning a performance-based bonus of up to 30 per cent, which would take his salary up to $829,400. However, the bonus is an “at-risk” component of the chief executive’s remuneration package, which depends on both personal performance and company performance.

Steve Fuller – Enable: Fuller will not take a cut to his salary, which was $958,000 in the financial year ending June 2019. The fibre broadband network provider for greater Christchurch, remains in a good position financially with a customer base of about 115,000 generating revenue.

Christchurch Airport. Photo: Supplied
Christchurch Airport. Photo: Supplied
Malcolm Johns – Christchurch Airport: Johns has not reduced his salary, which was $896,100 in the financial year to June 2019. Matters such as future senior remuneration, capability retention and talent strategies may be discussed in the future.

Rob Jamieson – Orion: Jamieson’s salary has not been reduced, his remuneration for 2018 to 2019 was $675,000.

Paul McNoe – RedBus: RedBus is undergoing a full business review as a result of transport demand and future contract changes, combined with Covid-19 impacts. McNoe said the process is not complete and could not comment on whether it would affect his $314,337 salary at this time. McNoe said RedBus has had full business funding through NZTA and ECan.

Environment Canterbury: ECan is not currently considering pay cuts for individual staff. It has several vacancies at the moment, including the chief executive position. Bill Bayfield is no longer in the role, having moved to a new job in Wellington this week.

John Bridgman – Otakaro: Otakaro, a crown-owned company in charge of delivering Government-led anchor projects in Canterbury, will not be reducing staff costs – which means Bridgman will not take a pay cut to his salary. He received remuneration of $535,000 for the financial year ending June 2019.

 

 

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