When is a CEO not a CEO?

Published: Wed 2 Nov 2005 12:29 AM
Hon Georgina te Heuheu
National Party Broadcasting Spokeswoman
2 November 2005
When is a CEO not a CEO?
National Party Broadcasting spokeswoman Georgina te Heuheu says if Ian Fraser isn't working as Chief Executive, he should not be paid the Chief Executive's salary.
Mr Fraser is to remain on the TVNZ payroll for six months, for which he will be paid $300,000. He will not be working as Chief Executive during this time.
"It was TVNZ's decision not to keep Mr Fraser on as Chief Executive for the notice period, so they should not be paying him for work he isn't doing. And they certainly shouldn't be paying for two Chief Executives,"says Mrs te Heuheu.
"Steve Maharey knows that no number of odd jobs is worth $300,000. What is Mr Fraser going to do? Clean the toilets? Mr Maharey should ensure taxpayers get what they pay for over the next six months.
"If Mr Maharey is so adamant that this payment is not a golden handshake he should put pressure on the board to ensure it doesn't become one," says Mrs te Heuheu.
In six months time Mr Fraser will also reportedly become eligible for $120,000 in superannuation.

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