Former TVNZ CEO Kevin Kenrick. Photo / Supplied
Former TVNZ chief executive Kevin Kenrick pocketed nearly $2.1 million after his final eight months in the job.
The state broadcaster's annual report reveals that Kenrick, who left the job in February this year, snared $2.087m during the 2022 financial year.
His total remuneration was up from $897,628 during the 2021 financial year.
His 2022 pay packet was made up of:
• Base salary: $560,571
• Holiday pay $195,154
• Short term performance Incentive $1,231,944
• Superannuation $99,365
"The annual short-term performance incentive [STI] paid to the CEO in September of each year relates to performance against the criteria set for the previous financial year. In the current year [2022], the former CEO was paid an STI relating to FY21 performance, as well as an STI for FY22 performance to the date of departure.
"This was agreed with the board as part of an agreement to extend his notice period until a replacement was appointed," the annual report says.
"The actual payments received in FY21 reflect that the former CEO agreed with the board that he would not be paid an STI for FY20 in response to the economic impact of Covid-19 on the business," the broadcaster said.
TVNZ recorded net profit of $7.9m in the 2022 financial year, down from $59.2m in 2021
Meanwhile, candidates are lining up to lead the entity that will be known as Aotearoa New Zealand Public Media (ANZPM) after TVNZ and RNZ merge.
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