New Zealand Lotteries Commission Annual Results
"I am very disappointed at Green MP Rod Donald's interpretation of the New Zealand Lotteries Commission's work" Presiding Member Geoff Thompson said in response to criticism of the salary paid to the Lotteries Commission Chief Executive.
"The Lotteries Commission regards the Chief Executive's salary as generous but not excessive. It is fixed annually after applying independent remuneration advice and is based on the salary set at commencement of the Chief Executive's employment twelve years ago," said Mr Thompson.
He said Mr Bale was headhunted from the private sector in 1987 and a substantial salary was agreed at that point to establish the new Lottery business. The New Zealand Lotteries Commission has more than doubled its turnover in twelve years and the Chief Executive's salary has kept pace with this. Mr Thompson noted that the Chief Executive receives no bonus or share options and it is relevant to compare this to the salary paid to the Chief Executive of Sky City Casino, a competitor in the gaming industry.
The Lotteries Commission operates in a very competitive environment seeking a share of the consumer's discretionary dollar. It competes with videos, chocolate bars, McDonalds promotions and the like. It has a retail network of over 600 franchised outlets. The Commission has been very well served by talented leadership and senior management to ensure a hugely successful business for the benefit of New Zealanders. In its twelve years of existence, the New Zealand Lotteries Commission has contributed over $2.1 billion in taxes and profit for distribution to good causes.