Mike Sneesby to give permanent staff a ‘recognition bonus’ after positive FY22 results
Nine’s chief executive and director of Nine, Mike Sneesby, is giving his permanent employees who joined before 1 April a ‘Recognition Bonus’ of $1750.
In an email to staff on Wednesday, Sneesby said the strength of the business and financial performance has come from some great achievements across all parts of the company.
Mike Sneesby
$1750 bonus for all staff is a great start would be interested to see what exec bonus are though
You can check it in their annual report?
According to Nine’s Annual report for 2021 Mike Sneesby received a cash bonus of $263,813 for FY21 – remember he only started in the CEO role that year at the start of April, meaning that bonus was for three months work.
Maria Phillips, the CFO, received a cash bonus of $240,042
Michael Stephenson, the chief sales officer, received a cash bonus of $393,960.
Hugh Marks for FY21 received a cash bonus of $1,401,975.
In total for FY21 Nine paid $2,299,790 in executive cash bonuses.
To quote an email to staff from James Chessell: “I also made it clear that the current union wage claim (including expanded accelerated progression) was not palatable for a publishing business that faces cost headwinds in FY23.”
According to Chessell if Nine were to meet the union on its pay rise request, it could results in an immediate hiring freeze, a review of satellite bureaus, ceasing international assignments, cutting training & development and eliminating the ability to offer discretionary increases to high performing staff.
But sure Nine, publicise the bonus you’re paying staff while trying to force the publishing business into accepting a EBA that doesn’t improve the workplace.