Subscribe to RSS$3153 a Day To Run KiwiRail
Interesting tit-bits from KiwiRail’s annual report:
- The CEO earns just over $8o0,000 a year
That’s $15,769 a week.
Or for a five day week, $3153 a day!
So far from this distance, Mr Quinn seems to be doing a very good job.
- 349 people earning more than $100,000 -twice as many as last year
- Infrastructure assets are valued at $5.835b
- Toll NZ is still its biggest customer, probably followed by Fonterra
6 Comments
As long as he’s competent!
He’s doing a far better job than the over paid CEO of Telecom!
Jon, to be fair to Reynolds he inherited one hell of a shambles from Gattung. He’s getting paid a significant risk premium because of the situation he inherited. Telecom’s poor performance is not of his making, really, and I say that as someone who is very, very critical of Telecom’s role in dragging us to the bottom of the OECD for telecommunications services pricing.
And yes, Quinn does appear to be competent. He could make more, much more, if he went overseas.
“He’s getting paid a significant risk premium because of the situation he inherited.”
RISK premium??? What risk does HE run? If he fails, he’ll get a golden parachute like everyone else in top management, of a size which a normal person could live in luxury for years, probably. It’s pretty bold to call that kind of eployment situation a “risk”.
Sounds like Big Jim earned a massive performance based bonus to ear those kinda bucks. What did he achieve this year? John Key runs a significant bigger business (NZ Inc) and only gets around half of that. I wonder how much Google’s CEO gets in comparison!!!
Karl, if you hadn’t noticed a lot of Reynolds’ remuneration is “at-risk”. The base is higher to compensate somewhat for the fact that Gattung left behind a lemon and thus the odds of not getting all (or any, as just happened) of the at-risk part.
Whereas Gattung managed to drive the company right off a cliff and STILL got paid all the at-risk part of her salary along with a massive severance pay-out.