Former Fiji Sugar Corporation (FSC) executive chairman Abdul Khan has broken his silence on his controversial remuneration, revealing that international candidates shortlisted for the role back in 2011 had demanded up to $1.8 million a year.
In a statement made available to this newspaper – addressing years of public scrutiny over his reported $840,000 annual salary and bonuses between 2011 and 2016, Mr Khan said that while opinions on executive remuneration may differ, any fair assessment should consider not only what was paid, but also what was expected, and what was achieved.
He said it was, therefore, important to place the discussion in its proper context by outlining the circumstances of his appointment, the agreed performance targets, and the results delivered during his tenure.
“My remuneration package consisted of: base salary of $NZ25,000 per month (approx. $FJ32,400), net of tax, paid in equivalent Fijian currency; rental subsidy of $FJ3100 per month; and company vehicle and mobile phone,” Mr Khan said in his statement.
However, he denied receiving any performance bonus.
“It is worth noting that no performance bonus was received, despite it being made available to me; no FNPF contribution was paid by FSC or myself; and all other income as my directors’ fees for other directorships were paid directly to FSC.
“Like many executive appointments, remuneration was linked to the expectation that agreed performance objectives would be delivered and measured. I exceeded every target,” he said.
He added the progress achieved during his tenure reflected a collective effort – by company staff, farmers, contractors, industry stakeholders, the board and directors, and Government support – to strengthen an industry that remained vital to many Fijian families and communities.
Mr Khan said public discussions regarding remuneration were understandable but more important considerations were whether values were delivered to the organisation or industry stakeholders.
n More on Page 15
