Last updated: 18 June 2020 at 4:15pm EST. The national carrier’s chief executive officer Goh Choon Phong called it “the greatest challenge in the SIA’s Group’s existence” in an internal memo to his staff in March, as international travel came to a virtual halt due to the pandemic. From Mar 1, senior management figures will take a 10 to 15 per cent reduction in their salary, including SIA CEO Goh Choon Phong, who will take a 15 per cent cut. How to Write a Resume. Prior to his appointment, he worked for the SIA group for more than 20 years for the airlines' operations in China and Scandinavia. Change in Pension Value and Nonqualified Deferred Compensation Earnings: The difference between such compensation between the prior year and the current year. In an employee email, chief executive Goh Choon Phong said he will take a 15% pay cut. "The programme is going well and gaining momentum," Mr Seah said. $0 was received as change in pension value and nonqualified deferred compensation earnings, Want to do more with your profile? SIA chairman Peter Seah's total remuneration more than doubled to $763,110 in FY18 from $376,650 a year ago, reflecting his ascension to chairmanship of the board from Jan 1, 2017. Close. However, for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. $111,250 was received as fees earned or paid in cash, 86 Ratings. Before becoming chairman, Mr Seah received a retainer fee of $160,000 as deputy chairman. According to the latest SIA annual report just released, SIA CEO Goh Choon Phong earned S$4,223,274 in last financial year ending on 31 Mar 2020. From Mar 1, senior management figures will take a 10 to 15 per cent reduction in their salary, including SIA CEO Goh Choon Phong, who will take a 15 per cent cut. As a member of Board of Directors at Mastercard Inc, This included a base salary of S$1,374,950, bonuses of S$1,046,967, shares of value S$1,643,940 and benefits of S$157,417. The FT article also highlights mounting pressure on companies from regulators, politicians, and shareholders. But a log-in is still required for our PDFs. Goh Choon Phong. Want to remove competitor ads? We have been experiencing some problems with subscriber log-ins and apologise for the inconvenience caused. The FT article also highlights mounting pressure on companies from regulators, politicians, and shareholders. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Grow your employer brand. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. In an employee email, chief executive Goh Choon Phong said he will take a 15% pay cut. Singapore Airlines CEO Goh Choon Phong reduced pay by 30%; and Rolls-Royce CEO Warren East is reducing his salary for 2020 by 20% and deferring his bonus. Work in HR or Marketing? Although his salary increased to $1.37 million, bonus paid out for FY2017 performance declined to $1.73 million from $1.95 million the year before. All rights reserved. $0 came from other types of compensation. Goh Choon Phong. 5.0 ... A Guide to Negotiating the Salary You Deserve. Grow your employer brand. Stock Awards: Compensation paid in the form of company equity that is structured as restricted stock. All proxy statements are public filings made available to the general public by the SEC. Goh Choon Phong, CEO, Singapore Airlines This is the first time Singapore Airlines has made compulsory redundancies since the SARS crisis in 2003, when a total of 414 staff, including pilots and cabin crew, left the business under similar circumstances. You may also find the annual proxy statement by going directly to the company's website. Other measures include compulsory unpaid leave for pilots on … According to the latest SIA annual report just released, SIA CEO Goh Choon Phong earned S$4,223,274 in last financial year ending on 31 Mar 2020. By registering, you agree to our T&C and Privacy Policy. SINGAPORE - Singapore Airlines (SIA) paid chief executive Goh Choon Phong 14 per cent less in fiscal 2018, reflecting lower bonuses for a lacklustre fiscal 2017 and lower valuations for his share-based compensation, according to the national carrier's latest annual report. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. Want to remove competitor ads? Change in Pension Value and Nonqualified Deferred Compensation Earnings. This report is not for commercial use. In the internal note to staff on Friday (28th February) the CEO of Singapore Airlines, Mr Goh Choon Phong, has said that the board of directors and his management team will be taking the lead with a salary cut. In a memo to the staff, chief executive officer Goh Choon Phong announced the basic salary reduction of 10% for all staff below the level of manager while managers and senior managers will take a 12% pay cut, up from 10% previously. CEO gets 35% pay cut. Other measures include compulsory unpaid leave for pilots on … Thorough reviews have been conducted to assure this data accurately reflects disclosures. Goh Choon Phong - The man who is destroying SIA. The information shown here is a reporting of information included in the company's proxy statement. EVPs and SVPs 25% and 20% respectively. Want to do more with your profile? Singapore Airlines (SIA) is cutting pay for employees, managers and bosses, a memo by chief executive officer (CEO) Goh Choon Phong to … This amounts to 10 per cent of the basic salary for all staff below the level of manager, said chief executive officer (CEO) Goh Choon Phong in a memo to staff this week. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). With Vistara, the joint venture between Tata Sons and Singapore Airlines, set to take off soon, the Singapore Airlines Chief Executive Officer, Goh Choon Phong, outlines what the … In the previous financial year (FY2018/19), he earned a total of S$5.5 […] In its sustainability report, SIA also said that it met a more stringent safety target in FY2018 for flight incident reports. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. "This is the greatest challenge in the SIA Group's existence," Chief Executive Goh Choon Phong said in a memo to staff. May 5, 2017 Helpful (1) ... Add Salary Add Benefits Add Interview. In FY2017, SIA aimed for fewer than 1.02 incident reports per 1,000 flights, but only achieved a rate of 1.04 reports per 1,000 flights. This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. The national carrier’s chief executive officer Goh Choon Phong called it “the greatest challenge in the SIA’s Group’s existence” in an internal memo to his staff in March, as international travel came to a virtual halt due to the pandemic. The chart on this page features a breakdown of the total annual pay for Choon Phong Goh at Mastercard Inc as reported in their proxy statements. All Other Compensation: Compensation that is paid in the form of perquisites, such as expense reimbursement. Tang’s commitment runs through to December. Close. CEO Goh Choon Phong said his base salary will be cut by 30% from April 1, up from the 15% announced earlier. Board of directors – 15% directors fee cut (1st March) CEO – 15% salary … Choon Phong Goh has been the CEO of Singapore Airlines Limited since 2011. No. The aviation industry is currently still reeling from the impact of Covid-19, and Singapore Airlines (SIA) is no exception — they announced that they’re letting go of about 2,400 more staff on Monday (14 Sep).. considering other measures including asking staff to take voluntary no-pay leave, according to a Straits Times report Monday, citing an internal letter from CEO Goh Choon Phong. Other leaders will be given pay cuts in the coming months: The airline did not disclose its target for the year ahead. May 5, 2017 Helpful (1) ... Add Salary Add Benefits Add Interview. SIA pays its chairman an all-in retainer fee of $750,000. Goh Choon Phong (simplified Chinese: 吴俊鹏; traditional Chinese: 吳俊鵬; pinyin: Wú Jùn Péng) is the chief executive officer (CEO) of Singapore Airlines and Singapore Airlines Cargo.He was appointed the CEO of the airline on 3 September 2010. Singapore Airlines CEO Goh Choon Phong reduced pay by 30%; and Rolls-Royce CEO Warren East is reducing his salary for 2020 by 20% and deferring his bonus. The CEO is, for his part, taking a 30% salary cut from the start of April . SIA CEO Goh Choon Phong will be taking a salary cut of 30% instead of 15%. Outline of two peoples' heads. Thread starter aurvandil; ... Salary $1,094,000 Bonus $1,014,472 Total Annual Compensation $2,108,472 Stock Options* Restricted Stock Awards $1,537,898 All Other Compensation $134,165 Total … You have reached your limit of subscriber-only articles this month. As at 11.53am on Thursday, SIA shares were trading at $10.72 apiece, down 0.9 per cent or 10 cents. Singapore Airlines chief executive Goh Choon Phong said in a note to staff that his management team will take the lead with a salary cut effective March 1, 2020. In FY2018, net profit rebounded, more than doubling to $892.9 million. According to SIA Annual Report FY2018/19, Goh earns $1.4 million in salary or about $116K a month. SIA also maintained its previously stated goal to reduce electricity consumption in its offices by 15 per cent; and waste generation from its buildings by 30 per cent by fiscal 2021. CEO gets 35% pay cut. Choon Phong Goh Net Worth This article is now fully available for you, Please verify your e-mail to read this subscriber-only article in full. After that, we will consider the growth in the business. SINGAPORE – Singapore Airlines (SIA) is cutting pay for management staff, with chief executive Goh Choon Phong leading the way with a 15 per cent salary cut, The Straits Times has found out. 1 Rating. December 6, 2019 "Excellent airline to work for !" Singapore Airlines (SIA) is cutting pay for employees, managers and bosses, a memo by chief executive officer (CEO) Goh Choon Phong to … And then there’s Air France-KLM head Ben Smith, who is taking a 25% pay cut while Singapore Airlines’ Goh Choon Phong and Cathay Pacific’s Augustus Tang are both on record as foregoing 30% of their salaries. His 2 Executive Vice Presidents, Mak Swee Wah and Ng Chin Hwee earn about $700-800K in … Goh Choon Phong. Non-Stock Incentive Plan Compensation: Cash compensation earned for the achievement of predefined objectives. SPH Digital News / Copyright © 2020 Singapore Press Holdings Ltd. Co. Regn. SINGAPORE – Singapore Airlines (SIA) is cutting pay for management staff, with chief executive Goh Choon Phong leading the way with a 15 per cent salary cut, The Straits Times has found out. See All Guides. You can read this subscriber-only article in full, All done! 198402868E. Learn More. Singapore Airlines Cargo. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. The FT article also highlights mounting pressure on companies from regulators, politicians, and shareholders. The airline had 0.96 incident reports per 1,000 flights, below its 0.98 reports per 1,000 flights goal. Tang’s commitment runs through to December. Risk management The SIA Group said in a statement that it diversified its network, prepared TR to spread its risks, and provided services to a wide range of passenger and market segments. CEO Goh Choon Phong's salary will be cut by 35 per cent, up from 30 per cent. Option Awards: Compensation paid in the form of company equity that is structured as stock options. Get a free employer account. $215,056 was awarded as stock and SIA's net profit fell 55.2 per cent to $360.4 million in FY2017. Choon Phong Goh became the CEO of Singapore Airlines Limited in 2011, and we think it's a good time to look at the executive's compensation against the backdrop of overall company performance.This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. Chief Executive Goh Choon Phong's salary will be cut by 35 percent, up from 30 percent. Singapore Airlines chief executive Goh Choon Phong received $4.32 million in total remuneration in the year ended March 31, 2018, from $5.02 million the previous year. In a statement to shareholders, Mr Seah expressed optimism about the airline's ongoing strategic transformation process, especially with Mr Goh leading a senior team to oversee the changes. Other affected staff will see salary cuts of 10-12%. Mr Goh received $4.32 million in total remuneration in the year ended March 31, 2018, from $5.02 million the previous year. Including bonuses, shares and benefits, his total package amounted to some $5.5 million in the last FY. Chief Executive Goh Choon Phong's salary will be cut by 35 percent, up from 30 percent. In a memo to the staff, chief executive officer Goh Choon Phong announced the basic salary reduction of 10% for all staff below the level of manager while managers and senior managers will take a 12% pay cut, up from 10% previously. Mr Goh received $4.32 million in total remuneration in the year ended March 31, 2018, from $5.02 million the previous year. The gift link for this subscriber-only article has expired. The value of Mr Goh's share-based compensation also fell to $1.10 million in FY18, compared to $1.67 million in FY17. He added that executive vice presidents will take a 12% cut, while senior vice presidents, 10%. Read more at The Business Times. Wallmine is a radically better financial terminal. With Vistara, the joint venture between Tata Sons and Singapore Airlines, set to take off soon, the Singapore Airlines Chief Executive Officer, Goh Choon Phong, outlines what the … That decline was partly due to the retirement of directors Stephen Lee Ching Yen, Christina Ong and Lucien Wong Yuen Kai from the board and the appointment of two new directors, Dominic Ho Chiu Fai and Simon Cheong Sae Peng. Work in HR or Marketing? There are 18 executives at Mastercard getting paid more, with Ajaypal Banga having the highest compensation of $23,250,000. Advertisement. Until we resolve the issues, subscribers need not log in to access ST Digital articles. Choon Phong Goh became the CEO of Singapore Airlines Limited in 2011, and we think it's a good time to look at the executive's compensation against the backdrop of overall company performance.This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. Choon Phong Goh Net Worth They can read the article in full after signing up for a free account. In the previous financial year (FY2018/19), he earned a total of S$5.5 million: Goh's total declared salary was S$1,374,960, after accounting for the additional month in March where the wage cuts kicked in. SIA CEO Goh Choon Phong will be taking a salary cut of 30% instead of 15%. WITH no certainty as to when the Covid-19 outbreak will abate, Singapore Airlines (SIA) will continue to press ahead with cutting spend, even after announcing a S$15 billion cash call last week. $0 was received as non-stock incentive plan compensation, In the internal note to staff on Friday (28th February) the CEO of Singapore Airlines, Mr Goh Choon Phong, has said that the board of directors and his management team will be taking the lead with a salary cut. We continue to focus on getting as many of our passengers as possible back home safely and protecting the jobs of our people,” said SQ CEO, Mr. Goh Choon Phong. Fees Earned or Paid in Cash: This is the amount of fixed retainers and meeting fees and paid in the form of cash. Write a Resume Recruiters Can't Resist. Of this total EVPs and SVPs 25% and 20% respectively. Last updated: 18 June 2020 at 4:15pm EST. $0 was received as options, Outline of two peoples' heads. Goh Choon Phong, CEO, Singapore Airlines This is the first time Singapore Airlines has made compulsory redundancies since the SARS crisis in 2003, when a total of 414 staff, including pilots and cabin crew, left the business under similar circumstances. Share gift link below with your friends and family. Directors' fees paid by the group also slipped about 1.6 per cent to $1.91 million, from $1.95 million the previous year. SIA CEO Goh Choon Phong Pens Email Explaining Retrenchments. Other leaders will be given pay cuts in the coming months: This included a base salary of S$1,374,950, bonuses of S$1,046,967, shares of value S$1,643,940 and benefits of S$157,417. This information is according to proxy statements filed for the 2019 fiscal year. Learn More. 1 Rating. Get a free employer account. Total Named Director Compensation: The sum of all dollar values above. What is the salary of Choon Goh? 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