And chairman Kodagoda, director Kaba give their services for free

The total board directors’ fees of the Amalgamated Telecom Holdings (ATH) Group have increased from $62,500 to $90,000.

The announcement was made during the ATH annual general meeting last week.

Chief Executive Officer and Company Secretary, Ivan Fong said the directors’ fee was stable for 10 straight years.

Mr Fong said they did surveys across the region and had found out that companies in Fiji are on the low end with the payment of directors.

He added that one of the challenges for companies is, “If you want a good director, then you have to start paying for them too.

“We have budgeted $15,000 for the chairman and $12,500 for each directors,” he said.

Meanwhile, chairman Ajith Kodagoda confirmed to the Fiji Sun that all his and director Sanjay Kaba’s services are honorary.

“I as Chairman have not taken any single cent,” he said.

Mr Kodagoda added that compare to the market rate, and with the sacrifices that the directors do, the fees are still very small.

The total remuneration increased after 10 years although the company and the value have grown, said Mr Kodagoda.

There have been false claims on social media that the directors get $90,000 each.

This is what is known as “Fake News.”

Feedback:  selita.bolanavanua@fijisun.com.fj