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CEOs of state-owned enterprises don't do anything to deserve fat salaries — Ken Thompson

Kenneth Thompson, the Chief Executive Officer of Dalex Finance has said Chief Executive Officers (CEOs) of State-Owned Enterprises (SOEs) don't deserve to take home huge salaries at the end of the month.

Kenneth Thompson

His comments come after the government said the CEOs are to contribute 30% of their salaries to the government revenue to mitigate economic hardships in the country.

According to Ken Thompson, most of the CEOs helped the governing party in opposition in one way or the other, hence the position serves as a reward for work done politically, but on the basis of competence to deserve huge salaries.

He said though some CEOs receive high salaries, it is not linked to performance and hard work.

"The issue is not how much they are paid. The issue is that they don't do anything for it,' he said on Joy News Super Morning Show on Tuesday, April 26, 2022.

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"So he’s done the work already and he's being rewarded and therein lies the problem. First, there is no measurement of performance.

"Secondly, it's a reward and it’s not so much the money but people are worried that they spend tax payer's money and they get nothing," he added.

Meanwhile, the Fair Wages and Salaries Commission is undertaking a comprehensive review of salaries and conditions of service of CEOs of State-Owned Enterprises.

The Chief Executive of the Fair Wages and Salaries Commission, Ben Arthur, said the standards on which the review is based, include a 30% cut in benefits and renegotiation of conditions of service to eliminate inequities.

He said "I must also be sincere to you that the targets as far as the wage basket is concerned are very difficult to meet. The government has gone ahead to even slash some CEOs' benefits to 30% but that is not to say, that it entirely addresses the issue.

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"We are taking the necessary steps to ensure that the right thing would be done specifically for SOEs that have not been done."

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