Air New Zealand's CEO - paycut

[Harbour Dweller]

Air New Zealand's chief executive Greg Foran has offered to slash his base pay, as the airline moves to cope with falling demand as a result of the coronavirus.

My respect Mr Foran! Top down leadership through connecting with your staff and Inclusion.

https://www.stuff.co.nz/business/120...o-hard-to-call

https://www.stuff.co.nz/business/974...d-workers?rm=a

[cooperplace]

There's someone in Australia, in the airline business, who should take note. And lots in other businesses.

[Paragraph377]

Smoke and Mirror Act - read the fine print

Aagh my beloved ANZ, I do miss her. A wonderful career with nothing but good memories. However, don’t be fooled - a paycut of $250k when your salary is $1.6m is a mild haircut. Godfrey used to bellow on about how he was a low paid CEO at Virgin Blue. What they don’t tell you is that he still gets share options (even if they drop in value, they are still free for him!), he gets a sign-on bonus, retention bonus, performance bonus and then a bonus based on profit/revenue. DO NOT BE FOOLED. This CEO is still earning millions!!!!

[ElZilcho]

On one hand, I commend Greg for taking this step. On the other, we all know it’s virtue signalling at its finest. A man in his position could reduce his salary to $250k (not by) and it would have very little effect on his overall wealth. Of course, he could of also reduced it by nothing, like I’m sure Luxon would of, so I’m grateful he’s taken this approach.

If forced LWOP or worse, Redundancies eventuate, it’ll likely hit the most vulnerable staff first... those who live from pay to pay, so I certainly hope other management follow in his example and don’t expect the usual bonuses for hacking and slashing like they always do.

[Roj approved]

Originally Posted by Paragraph377

Godfrey used to bellow on about how he was a low paid CEO at Virgin Blue. What they don’t tell you is that he still gets share options (even if they drop in value, they are still free for him!), he gets a sign-on bonus, retention bonus, performance bonus and then a bonus based on profit/revenue. DO NOT BE FOOLED. This CEO is still earning millions!!!!

and don’t forget his ongoing earnings that his leasing company earns from the aircraft he ( sorry, they) lease to VA.

[Paragraph377]

Originally Posted by Roj approved

and don’t forget his ongoing earnings that his leasing company earns from the aircraft he ( sorry, they) lease to VA.

Indeed. I forgot about that! From memory he also hand his hands involved in the company that provided the Power Push Units (PPU) and the staff uniform supplier also. Well, thats going back a number of years and It wasn’t a widely known fact. These CEO’s sure do know how to earn a few additional dollars from the company. Of course most, if not all of the loyalists happily trot along earning a below average income all because of the exciting atmosphere that Sir Richard created!!!

[A Pandy]

Greg Foran

With regards to the CEO of Air New Zealand, Greg Foran taking a pay cut, let me just say that as a company Air New Zealand has one of the nicest, most down to earth and sincere persons you could ever meet. I know Greg personally having flown him many times in different parts of the world while he was my boss in my corporate job. He was always a pleasure to fly and work with.
He will do what is right for the company and for it's employees as well as drive the Company forward with a service oriented culture.
It is often so easy to point the finger or to make ill informed statements about those that head up large corporations and to decry the salaries and benefit packages they earn. But having witnessed the work lifestyle and pressure that someone like Greg deals with I for one would not wish to do his job for all the money in the world.