Directors Fees 08/09/01
DOMAINZ DIRECTORS FEES
The fees for DOMAINZ Directors were last altered in March 2000 and set to be:
- Directors $8,000
- Chair $9,500
The Secretary has consulted with the Institute of Directors and Price Waterhouse (at no charge) on what average rates are for companies of the same staffing size or same turnover as DOMAINZ.
Their advice is as follows:
- Directors $14,307 (for 10 staff) or $10,550 (for $4.5 million turnover)
- Chair $21,664 (for 10 staff) or $15,308 (for $4.5 million turnover)
There are three other influential factors
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Many of the Directors have performed duties beyond the norm such as acting unpaid as Interim CEO. This is mainly historical now.
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The more important is that the nature of the company is about to change from being a monopoly to a competitive Registrar and to be blunt the business will suceed or fail on the abilities of the Directors and staff, and there will be accountability for this. There is going to be a significant period of change for them which will involve far more work than normal.
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The workload of the DOMAINZ Chair is far more than merely 20% over a normal Director. The current Chair puts in many days a month.
Therefore Admin Committee recommends that the maximum fees for Directors be set at $10,000 and for the Chair at $20,000.
© 2001 The Internet Society of New Zealand
Last updated 8 September 2001
