Spark scraps directors' fee increase amid shareholder 'sensitivity' around pay hikes

Fri, 30 Oct 2015

By Suze Metherell Oct. 30 (BusinessDesk) - Spark New Zealand, the telecommunications operator, has pulled a proposal to boost directors' fees by 5 percent, after negative feedback from shareholders and general sensitivity to hikes in board payments. The Auckland-based firm had planned to ask shareholders next Friday to vote on an $80,000 increase to the directors' remuneration fee pool, taking it to $1.58 million annually. Today Spark said it was scrapping the resolution given the "current sensitivity" around directors lifting their fees...

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