Singtel CEO’s lower pay belies turnaround, while SIA CEO’s higher pay may reflect peaking profits
Singtel is revitalising its core businesses and unlocking value while SIA has made the most of the pandemic-era shareholder support it received
The chief executives of Singtel and Singapore Airlines (SIA) made headlines this past week when their multi-million-dollar pay packages were revealed in the latest annual reports of their companies – both of which have Mar 31 financial year-ends.
As the two reports were published within days of each other, it was hard to not compare what each of them had been paid versus the performance of their respective companies and the management challenges they might have faced.
Goh Choon Phong, the CEO of SIA, was paid a total of S$8.1 million for FY2024. This was 20.6 per cent more than the S$6.7 million he earned for FY2023; and 47.4 per cent more than the S$5.5 million he pocketed for FY2019, before the Covid-19 pandemic.
