The tables disclose the remuneration of each chief executive based on the annual remuneration package specified in their employment agreement and/or letter of appointment. Disclosure also reflects the timing of each chief executive’s annual remuneration and review cycle.
The table shows pay periods (typically annual) that finished during each year. These are updated six-monthly as pay periods end.
Information about acting chief executives is also included. Names of acting chief executives are only provided if they have been in the role for more than three months. Information about remuneration for acting chief executives is typically disclosed once their acting period has ended and is not always available.
Figures are presented to the nearest thousand dollars in accordance with standard financial reporting practice.
Disclosure - what is included
Disclosure figures are based on each chief executive’s annual remuneration package. This includes base salary and other benefits, where applicable, such as employer contributions to superannuation, performance-related payments, cost of insurance to the employer and the value of the use of a vehicle. Not all chief executives are eligible for all these benefits.
If applicable, annual remuneration packages are adjusted to reflect the latest decisions on performance pay and time in role.
This figure should be the same as or close to remuneration accrued. It may be more or less than remuneration received over the period but provides the best indication of the package in place for the chief executive during the disclosure period. Under this approach, the only factors that should influence changes in remuneration over time are:
- changes to the chief executive’s package (because of annual remuneration reviews and/or change in job-size)
- the amount of performance pay awarded (and accepted) for the year
- time in role (i.e. where a chief executive has not been in role for a complete year).
Timing of disclosure
Disclosure is updated on a regular basis to reflect each chief executive’s latest complete pay year (or other period where appropriate), including any accompanying decisions on performance pay.
All organisations have checked their information. While Te Kawa Mataaho has compiled the information, the final responsibility for accuracy lies with the body that sets the remuneration.