Air NZ hails Chief Executive Fyfe
Air New Zealand’s annual general meeting in Christchurch this afternoon witnessed a wide conflict between shareholders and management. Chief Executive Rob Fyfe was praised for providing strong leaderships that helped the airline weather challenges posed by the global financial crisis for the year.
One shareholder pulled the airline for publishing body paint portrait of chief executive Rob Fyfe in an advertisement.
Chairman John Palmer admitted that there are some losses due to currency fluctuations; but overall the year remained advantageous for the airline, which the firm reported one of the best performances of any airline across the globe. Palmer admitted that the shareholders had not been paid, despite the company’s good performance during the reporting period.
He endorsed the leadership qualities of Rob Fyfe, adding that survey showed strong commitment of employees to the airline, which indicates strong leadership and organizational qualities of the Chief Executive.
Palmer added: "The remuneration of our CEO reflects that. While it is one of the larger executive packages in New Zealand, it is carefully constructed around performance and has a large element at risk in both the short and medium term."
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