6 Nov 2014

Watercare cuts top salary for new CEO

6:40 pm on 6 November 2014

Auckland's water company has cut hundreds of thousands of dollars from the salary of its chief executive.

Raveen Jaduram

Watercare's new chief executive Raveen Jaduram. Photo: Supplied

The council-owned company appointed acting-CEO Raveen Jaduram into the role, following the retirement on health grounds of long-serving Mark Ford in September.

Mr Ford died after a long illness last month.

Watercare's chair David Clarke said Mr Jaduram would be paid a basic salary of $510,000, rising to a possible $586,500, based on performance.

Mr Ford had been paid $860,000, the highest salary in the Auckland Council group.

It was the second salary reduction when a founding chief executive in the Auckland Council group had been replaced.

Council chief executive Stephen Town is on $630,000 - $150,000 less than predecessor Doug Mc Kay's salary.

The highest-paid chief executive in the group is founding CEO of Auckland Transport Dr David Warburton, whose salary is between $600,000 and $700,000.

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