Big parachute payments would be bad example
5 October 2001 Media Statement
Big parachute payments
would be bad example
Finance Minister Michael Cullen said
today he was “appalled” at the prospect that outgoing
directors of Air New Zealand could receive large golden
“The government does not yet own
shares in Air New Zealand and will not do so until the New
Year. It is therefore not in a position to exert any direct
influence over these payments.
“But at a time when Air New
Zealand clearly faces serious problems and the likelihood of
restructuring, these kinds of payments would set a very bad
example from the top,” he said.
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