Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Plunket's Troubles Highlight Wider Executive Pay Problem

Plunket's Troubles Highlight Wider Executive Pay Problem

Reports that senior Plunket managers are paid more than $180,000 show just how the toxic problem of excessive executive pay has spread from the corporate profit-making board-room to NGOs and the voluntary sector, Peter Malcolm, spokesperson for the income equality project Closing the Gap, said today.

"A serious driver of inequality in New Zealand is the ever-widening pay gap between executives and workers — with CEOs in New Zealand now earning 30 to 50 times more than the average wage," he said.

Adding insult to injury in Plunket's case is news of local groups fighting to regain control of money and assets built up through years of hard fund-raising.

Plunket CEO Amanda Malu defended the pay levels, telling Radio New Zealand that the organisation had to compete with the public sector and large corporates in hiring managers.

"Those comments highlight yet again the urgent need for corporate boards and the government to rein in excessive salaries, before even more damage is done to charitable organisations like Plunket," Mr. Malcolm said.

Studies show high CEO pay doesn't map neatly onto high performance, as the case of outgoing Fonterra CEO Theo Spierings shows.

"Workers tend to be paid much less than they're worth, while executives are paid much more. It's long past time to balance the scale, as Plunket is now learning the hard way," Mr. Malcolm said.


Info/References:
RNZ/Amanda Malu: https://www.radionz.co.nz/news/national/352938/plunket-responds-to-claims-of-unethical-behaviour
CEO to Worker Pay: http://www.otago.ac.nz/news/news/otago667152.html

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


HiveMind: Fair Enough? How Should New Zealanders Be Taxed? - Have Your Say

Scoop and PEP invite you to share your issues, ideas and perspectives on the NZ tax system with other New Zealanders using Scoop’s HiveMind tool. This Tax HiveMind is intended to complement and feed into the review being run by the Government-appointed Tax Working Group (TWG), which is looking at the fairness, balance and structure of the tax system with a 10-year time horizon.

We at Scoop and PEP believe that an issue as important as the fairness of the tax regime should be open for discussion, debate and dialogue. Unfortunately, a written submission process just doesn’t encourage the kind of public exchange we think is necessary in a well-functioning democracy. More>>

 

Gordon Campbell: On Thompson + Clark & Russia’s World Cup

Daily, the coalition government keeps running into examples of the toxic legacy left behind by National – and just as regularly, even the simple fixes are proving stubbornly difficult to enact. Take the case of the security firm Thompson + Clark ... More>>

ALSO:

Gordon Campbell: On The GCSB’s Security Hang-Up With Russia

So our GCSB has chimed in, alongside its British, Australian and US allies, with warnings about a “fresh wave” of Russian cyber attacks, although the warning has been curiously framed. More>>

ALSO:

PM's Europe Trip: CHOGM & Bilateral Meetings

Prime Minister Jacinda Ardern is in urope for the Commonwealth Heads of Government Meeting (CHOGM) in London and meetings with counterparts in Paris and Berlin. More>>

ALSO:

Hit And Run: AG Gives Approval For Inquiry

Attorney-General David Parker has today announced a Government Inquiry will be held into Operation Burnham and related events. The operation undertaken in Tirgiran Valley, Afghanistan, ... More>>

ALSO:

Addressing Climate Change: No New Offshore Exploration Permits

The Coalition Government is taking an important step to address climate change and create a clean, green and sustainable future for New Zealand, Prime Minister Jacinda Ardern announced today. More>>

ALSO:

Road Safety Summit: Actions To Improve Identified

The Local Government Road Safety Summit held last week identified actions that will lead to lasting changes to road safety in New Zealand, says Associate Transport Minister Julie Anne Genter. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages