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Weighing up merits of their pay packets
Perhaps Hutchison Whampoa finance director Frank Sixt should ask his boss for a little bit more in annual salary.
According to a statement filed to the Hong Kong stock exchange, computer- manufacturer Lenovo Group said it will pay its new chief financial officer Wong Wai-ming an annual salary of HK$3.35 million.
Looking at the market value of Hutchison Whampoa, which is 10 times that of Lenovo, it may seem at first glance that Wong is being fairly paid, because Sixt received an annual salary of HK$34 million last year - also 10 times what Lenovo offered Wong.
However, Lenovo said it will also offer Wong an annual housing allowance of HK$1.5 million.
Of course, it is not justifiable to compare the salaries of the two chief financial officers with a simple reference to the companies' market value.
Let's look at the performance of the two companies next year and determine who is overpaid - or underpaid. |
