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Wednesday, 11 August 2021 09:45

Another increase!

Written by  The Hound

OPINION: A mate of the Hound's was unimpressed when he recently received his voting papers for the annual meeting of rural insurer FMG.

He tells yours truly that he was flabbergasted by the gall of the FMG board who, tucked away in the papers, are asking for a huge pay increase for directors.

It is asking for a 17% increase in the chair's annual stipend, up from $100k a year to $117,000 and an extra 26% for each director, jumping from $50,000 to $63,000 a year!

It reminds your old mate of the failed attempt by Beef+Lamb NZ earlier this year to increase director fees, which went down like a cup of cold sick with levypayers.

What is it with these people and always having their hands out for more director fees?

Read the room for pity's sake!

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