$300,000 a year for top jobs

Press, 23 November 1988, Page 42

$300,000 a year for top jobs

The country’s two large food-and-liquor groups are bringing overseas top executives in at top salaries. A recent advertisement in the “Economist,” of London, sought a chief executive for what is believed to be Magnum Corporation, which has sales of more than a billion dollars. The company is offering a minimum salary package (salary plus allowances) of SNZ3OO.OOO. What skills are needed? The advertisement says: “You must have an outstanding record of achievement at senior management levels, including general management, in retail markets and/or fast moving consumer goods. You will have

well developed strategic planning and business development skills, and be able to demonstrate the ability to obtain the best performance from subordinates across diverse businesses.” Applications are being handled by Coopers and Lybrand in London. Lion Nathan is also bringing in a chief operations executive, who will be under Mr Douglas Myers, the managing director. This will coincide with a change in organisation, reflecting brand management as well as sector management. The company is not saying how much it will pay the new executive, but Mr Myers regards the salary being offered by his opposition, Magnum, as about the going international rate.