Tougher rules see directors seeking more

Tougher rules see directors seeking more

Despite the low level of economic growth many New Zealand company directors are managing to secure higher fees because of the increased levels of accountability they are facing.

The latest survey of directors' fees undertaken by remuneration and performance consultants, Strategic Pay ltd, shows that the fees paid to directors have increased by 4.9 per cent between 2009 and 2011.

John McGill, managing director of Strategic Pay says that in the latest June year the median remuneration for a Non-executive Chairman was $62,606 and for a non-executive director it was $35,000

He says that given the increased responsibilities and accountabilities directors face it is not surprising these are being reflected in their remuneration.

ends

© Scoop Media