Thursday, August 8, 2013
The Million Dollar Men and a Dirty Pipe
Fonterra CEO Theo Spierings earns something in the region of $5 million a year (based on his predecessors income). Twenty six Fonterra employees earn over a million dollars per annum each. This would mean that the Fonterra management collectively earn around $30-40 million (perhaps even more), not bad for a farmer's co-operative.
We still don't know the full story behind the Fonterra crisis and who was responsible, but we do know that the twenty six millionaires were not able to stop this from happening, or manage the crisis effectively.
There is also someone whose job it is to ensure that a certain pipe is kept clean, and I wonder what their salary/wages are?