No bonuses paid under current FSC board: Reddy

Fiji Sugar Corporation (FSC) Chairman Nitya Reddy has strongly denied allegations made by Fiji Labour Party leader Mahendra Chaudhry regarding bonus payments to FSC executives. Reddy asserted that under the current board's leadership, not a single bonus has been paid to any of FSC's over 2,000 employees. Furthermore, he stated the board has no knowledge of any bonus payments being issued over the past decade.

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Under the current board, not a single one of FSC’s more than 2,000 employees has received a bonus payment.

Reddy contrasted the current situation with previous management periods, noting that while employees in many Fijian sectors have seen regular salary increases, FSC employees received only one five percent raise after nearly five years without one. He pointed to publicly available records indicating that under prior boards, senior executives earned close to $1 million annually in salary and benefits, with several others receiving between $350,000 and $550,000 per year. Reddy suggested such remuneration levels warranted greater public scrutiny given the FSC's financial performance at the time.

During those same periods, Reddy highlighted that over 2,000 FSC employees earned between $3 and $4 per hour, resulting in annual incomes below $10,000, despite facing rising living costs. He noted that the two highest-paid executives at the time earned nearly 100 times more than many of their colleagues.

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The board is also unaware of any bonus payments made over the past 10 years.

The current board, Reddy emphasized, is committed to fair and responsible remuneration practices aligned with the corporation's financial standing. He stated that the combined annual remuneration for the current eight-member senior executive management team, including the CEO, is less than what a single executive previously received. FSC directors receive an annual allowance of $6,500, and the chairman receives $12,800, amounts unchanged since 2006. Reddy firmly dismissed claims of the FSC chair receiving millions as "entirely false" and irresponsible.

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The claim that FSC’s chair receives remuneration in the millions of dollars is entirely false.