Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Will Dean Hamilton Get a Silver Fern Farms’ Golden Parachute

Will Dean Hamilton Get a Silver Fern Farms’ Golden Parachute, If So Why?

NZ First is asking if Silver Fern Farms’ CEO Dean Hamilton, who announced his resignation late last week, is in line for a golden parachute just like his predecessor got.

“Dean Hamilton’s brief stint at Silver Fern Farms can be summarised as: ‘he came, he put a deal together, he sold it to China’,” says the Rt Hon Winston Peters, New Zealand First Leader and Northland Member of Parliament.

“The lead up to the sale of this company into Chinese control is one of the worst stories of market misinformation in this country’s recent history.

“There’s just one person earning $1.5m on Silver Fern Farms’ most recent annual report and it’s not the receptionist. That person, on $1.5m, earned 23-times what Beef and Lamb New Zealand predicted a farmer’s income was last season.

“And the meat workers made redundant on his watch will not think Mr Hamilton is much of a ‘good bugger’ that chairman Rob Hewett said he is. Nor will the remaining shareholders of what is now a Chinese-controlled company. Farmers were promised great things when they sold out and they’re still waiting.

“While NZ First will be making a policy announcement on this in the coming weeks, the chair of Silver Fern Farms needs to categorically tell us whether Mr Hamilton will get a ‘golden parachute’ like his processor did, and why.

“The last time a CEO resigned from Silver Fern Farms, Mr Hamilton’s predecessor walked away with a $1.8m golden parachute. Given these people are not exactly on the bones of their behind, that sticks in the throats of workers and shareholders alike,” Mr Peters said.

ENDS

Perhaps Mr Hewett, while he is at it, can disclose what the $8m director slush fund (at the time of sale) was about.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Not Easy: Gordon Campbell On The Greens’ Ongoing Problems

Hard to treat the Greens’ belated decision to stand a candidate in Ohariu as being anything other than a desperation move, by a party whose own leadership is evidently concerned about its chances of survival...

A few months ago, the Greens felt able to forego that role in Ohariu in order to help a beleaguered Labour Party get its candidate Greg O’Connor across the line, and knock Peter Dunne out of the parliamentary frame. More>>

 

Closing The Gap: Ardern Rules Out Income Tax Rise

After earlier commitments by Jacinda Ardern to do something about inequality and poverty, this new position on income tax seems an about face. To do something significant about inequality requires increases in income for those at the bottom and decreases for those at the top... More>>

ALSO:

Gordon Campbell: On DHB Deficits And Free Trade

Currently the world is looking on aghast at the Trump administration’s plans to slash Obamacare, mainly in order to finance massive tax changes that will deliver most of their gains to the wealthy. Lives will be lost in the trade-off. Millions of Americans stand to lose access to the healthcare they need... More>>

Greens' Response: Slum-Like Rentals Exposed In Renting Review

“...The grim findings of the review are a wakeup call about the true state of rentals in this country. Too many renters are festering in slum-like conditions under the thumb of landlords who have largely unchecked powers and ignore tenants’ complaints when it suits them.” More>>

ALSO:

Gordon Campbell: On The Life And Times Of Peter Dunne

The unkind might talk of sinking ships, others could be more reminded of a loaded revolver left on the desk by his Cabinet colleagues as they closed the door behind them, now that the polls in Ohariu had confirmed he was no longer of much use to National. More>>

ALSO:

Gordon Campbell: On Labour’s Campaign Launch

One of the key motifs of Ardern’s speech was her repeated use of the phrase – “Now, what?” Cleverly, that looks like being Labour’s response to National’s ‘steady as it goes’ warning against not putting the economic ‘gains’ at risk. More>>

ALSO:

Lyndon Hood: Social Welfare, Explained

Speaking as someone who has seen better times and nowadays mostly operates by being really annoying and humiliating to deal with, I have some fellow feeling with the current system, so I’ll take this chance to set a few things straight.. More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election