28 Oct 2009

$100,000 bonus for TVNZ chief executive

6:06 am on 28 October 2009

TVNZ's chief executive has been given a bonus of $100,000, in the same year that about 90 employees were laid off.

Chief executive Rick Ellis now earns $830,000 plus salary - more than twice what the Prime Minister earns.

TVNZ says $100,000 bonus was based on the company's financial performance.

However, the company's after-tax net profit dropped from $19.4 million in June 2008 to just over $2 million in June this year.

TVNZ says the bonus recognises an excellent 2007 - 2008 financial year for the company.