Friday, November 23, 2012

Rewarding incompetence

EQC has done a pretty shit job this year, with delays in payouts, engineers who systematically refuse claims, and people stuck in limbo while EQC negotiates with reinsurers. So naturally, its CEO has been given a whopping 20% pay rise:

Earthquake Commission chief executive Ian Simpson has received a pay rise of about $70,000 in the past year, despite the commission failing to meet its customer satisfaction targets.

Simpson's salary rose from a band of $330,000 to $339,999 in the June 2011 year to $400,000 to $409,999 in the June 2012 year, State Services Commission records show.

so who carried the can for non-performance? Not the chief executive, apparently. So much for the New Public Management's ideas of CEO-accountability...