Irrespective of wage negotiations Ralph has earnt every cent of the $1.25 mil...give the bloke some credit for once!
As for the Chairmans contribution, the skills and experience that he brings to the board is also worth his realtively small fee of $195k.
NZ CEO pay and board of directors fees are low by world standards. Their respective increases reflect the value they have added to the company (ie shareholder's return).
