Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


2014 REM survey


26 August 2014

Media release

Directors’ fees - growth again after quiet years

The Institute of Directors 2014 Directors’ Fees Report shows directors’ fees have risen this year after several years of little change.

Institute of Directors Chief Executive Dr William Whittaker said the increase in director fees could be attributed to several things.
“It’s partly a correction after a few years where fees have been flat or increased slightly. But it’s also a reflection of the improved economy where companies are in a better position to increase payments. There’s also an element of greater awareness of the importance of the role of directors and chairmen and recognition that the roles carry an increasing level of personal risk.”

The 2014 survey, carried out in conjunction with dsd Consulting, included 1,262 organisations and 1,883 directorships making it the IoD’s largest ever fees survey. It highlighted a number of interesting trends.
The median fee for a non-executive director increased from $36,000 to $40,000, while the median fee for a non-executive chairman increased from $50,000 to $51,000.

Dr Whittaker said a pleasing aspect of the survey was the increased representation of women both in numbers and in remuneration. In 2014, 23.9% of the survey sample were women up from 19.9% in 2013, while the gap between male and female directors fees was also closing.

The median for male non-executive directors increased by $2,800 in 2014, while for females the rise was $10,500. Female non-executive chairman had also recorded a larger median increase than males.

“The survey shows pay disparity between male and females directors and chairmen is closing, which I believe is mainly due to the increased numbers of women being appointed as directors and chairmen in more private company boards”, Dr Whittaker said.

The disparity between New Zealand and overseas owned companies also increased. The median fee for a non-executive director for New Zealand owned firms rose from $27,000 in 2013 to $36,000 in 2014, while the median for overseas owned firms more than doubled, rising from $40,000 in 2013 to $85,000 in 2014.

Directors at all levels continued to volunteer their time and expertise for free, with 50.9% of directors surveyed having one or more unpaid directorships, up from 44.7% in 2013.

Attached is information about the 2014 director’s fees report, including a snapshot of some of the key findings. The survey covered 1,262 organisations and 1,883 directorships making it our largest fees survey:

FINAL_2014_Survey_Infographic.pdf

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Industrial Action: Stats NZ Throwing Public Money Away Duplicating Data

The Public Service Association (PSA) says Statistics NZ are throwing money away by collecting the same data twice for official statistics such as the Consumer Price Index... As part of the ongoing industrial action, field interviewers who are PSA members are continuing to collect data, but are not sending it through to Statistics NZ. More>>

ALSO:

Other Stats:

Space: Rosetta's 'Philae' Makes Historic First Landing On A Comet

After more than a decade traveling through space, a robotic lander built by the European Space Agency has made the first-ever soft landing of a spacecraft on a comet. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news