Saturday, July 1, 2006

NKF disclosure standards to be of the Government.

It is distressing to hear that Mrs. Goh Chok Tong remarked that the annual compensation of S$600, 000 of the CEO is peanuts because the CEO is running a million dollar charitable organization with hundreds of millions in reserve.

If the CEO salary was indeed "peanuts", this seems to imply that the pay of the CEO is perfectly acceptable to everyone, even to the household that earns S$1000 monthly and donated to NKF.

Therefore, why doesn't the board of NKF releases the salary range of the CEO given that almost 2 out of 3 Singaporean donates to NKF. NKF is one of the very few organizations that so many Singaporean donate to.

Using the same principle, NKF disclosure policy should be like the Government, which releases the salary benchmarks of its Ministers and civil servants because the public (i.e. taxpayers) pay its wages.

It shouldn't take a costly court session paid by the donors of NKF to disclose the "peanuts" salary of the CEO.