INDEPENDENT NEWS

TVNZ members disappointed with CEO salary increase

Published: Fri 10 Nov 2017 04:06 PM
TVNZ members disappointed with CEO salary increase
TVNZ members of the unions, E tū and the PSA today expressed disappointment that Chief Executive, Kevin Kenrick had accepted salary and bonuses which increased his pay by $500,000 whilst overseeing falling revenues at the state-owned broadcaster.
TVNZ’s net profit for the year declined 89 percent – from $12.7m in 2016 to just $1.4m.
The news of Mr Kenrick’s 16 percent pay rise came as members were presented with a 1 percent increase for the same financial year.
It also comes on the back of an incoming Labour-led government promising to address growing inequality in New Zealand.
This year, staff have been through restructuring which resulted in the loss of more newsroom jobs and other positions across the wider business, in an effort to cut costs to off-set revenue declines.
Union representatives said employees had risen to the challenge of delivering quality content with fewer resources.
But they said they considered the Chief Executive’s remuneration deeply cynical in light of a volatile media environment and where TVNZ staff have been offered a pay rise that doesn’t even keep pace with the cost of living.
ENDS

Next in Business, Science, and Tech

General Practices Begin Issuing Clause 14 Notices In Relation To The NZNO Primary Practice Pay Equity Claim
By: Genpro
Global Screen Industry Unites For Streaming Platform Regulation And Intellectual Property Protections
By: SPADA
View as: DESKTOP | MOBILE © Scoop Media