The salary increases enjoyed by a number of listed freight, logistics, energy, media and financial company chief executive officers from 2013 to 2014 reflect New Zealand’s bouyant economic performance.
Leading the freight and logistics sector was Mainfreight Group managing director Don Braid who was paid $1,865,971 in 2014 a modest increase of .074% on the previous period, when he received $1,852,335 according to The New Zealand Herald business section.
Mainfreight’s company profit was $86.9 million.
The Herald collated data from the 2014 annual reports of 43 listed companies in regards to what was paid to their chief executives, and on average there was a 10% increase, and the average pay for 2013 was $1,495,694.
Freightways managing director Dean Bracewell also saw a modest 2.13% increase, his pay in 2014 was $1,161,092 as opposed to $1,136,821 in 2013. Freightways company profit was $41.7 million.
Port of Tauranga paid its chief executive officer Mark Cairns $1,464,000 in 2014 which was a 51% increase on the 2013 figure of $968,000. The Port of Tauranga posted a 2014 profit of $78.3 million.
Air New Zealand boss Christopher Luxon has enjoyed a 291% increase in his salary, no doubt a reflection on the airlines profitable performance since he took the reins as chief executive officer in January 2013.
In 2013 Luxon was paid $650,000, in 2014 that increased to $2,541,466. Air New Zealand’s profit in 2014 was $262 million.
Auckland International Airport boss Adrian Littlewood saw a 38% increase in his pay from $1,150,313 in 2013 to $1,596,973 in 2014. The airport made a profit of $215.9 million.
Z Energy made $95 million in profit in 2014, and its chief executive office Mike Bennetts was paid $2,060,000.
Two more modestly paid executives by comparison, were the managing director of NZ Oil & gas Andrew Knight and Trade Me chief executive officer Jon MacDonald.
Knight received a 13% increase in pay to $702,443 in 2014, while his employer made a profit of $10.1 million in 2014.
Website portal company Trade Me made a 2014 profit of $80.1 million and MacDonald received a 22% increase in pay from $554,510 to $675,783.
However one company boss saw a 54% decrease in his pay between 2013 and 2014. Solid Energy chief executive Garry Diack who left the company in May 2014, received $1,460,000 in 2013, and $660,000 in 2014. The company posted a loss of $181.9 million in 2014.
