People who sit on different boards of the subsidiary companies of Fijian Holdings Limited (FHL) will only get paid one set of board fees and allowances.
FHL Chief Executive Sereana Qoro has made this clear in the FHL AGM, saying the policy is to ensure that people do not get board fees and allowances for each board they sit on.
Qoro said this policy is now in effect and the previous policy no longer applies.
According to FHL's 2009 Annual Report, the FHL group's directors received a total of $528,000 for their services as directors and a further $35,000 in total for other services.
The FHL group directors services fees for the year 2008 was $515,000 and $10,000 for other services.
The directors fees for the holding company for the year 2009 is $200,000 compared to $178,000 in 2008.
For 2009, fees for the directors of the holding company for other services are $32,000 compared to $10,000 for the previous year.
FHL changes policy on board fees
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