TVNZ boss Kevin Kenrick’s pay rise has been branded ‘unconscionable’ by union members.
An additional $500,000 in bonuses and salary is to be added to Chief Executive Kenrick’s pay – a move which has disappointed the TVNZ members of the PSA and E tū unions. Mr Kenrick’s salary for this year, according to the TVNZ annual report, would be around $1.4 million.
Union members are unimpressed by the chief executive’s pay increase, as their pay increase of 1 percent was announced around the same time. In a media release yesterday, E tū union representatives showed concern for a pay increase which lagged behind the increasing cost of living.
Paul Tolich from E tū told Radio New Zealand the pay rise was unconscionable: “You’ve had a reduction in staff, redundancies for journalists and media production staff and other staff at TVNZ – and the CEO has had about $1.3 million in his take-home pay.”
TVNZ staff underwent restructuring earlier this year, which led to widespread redundancies affecting positions throughout the state-owned broadcaster. Mr Kenrick announced the major restructure in March, with the intention of cutting costs to stem ebbing revenue.
The chief executive receives the 16 percent pay increase despite overseeing an 89 percent decrease in TVNZ’s net profit – a slump from $12.7 million last year, to $1.4 million.
The new Minister of Broadcasting, Clare Curran, expressed concern over the pay increase in light of restructuring, job losses, and low wage growth.
The incoming Labour-led government has promised to address inequalities.