The trouble with Ostarine: Jimmy Wallhead’s
16th March 2018
The FIFA Compensation Sub-Committee and the FIFA President have agreed that the FIFA President’s gross basic salary will be CHF 1.5 million per year plus benefits. The Sub-Committee and the FIFA Secretary General also agreed that the Secretary General’s gross basic salary will be CHF 1.3 million plus benefits. The Compensation Sub-Committee, chaired by Tomaz Vesel, has determined these figures by taking into account a number of factors, including two independent expert opinions prepared by external human resources consultants.
Annual gross salary: CHF 1,500,000
Bonus for 2016: 0
Benefits: Car and lodging free of charge during term of office and contribution for expenses in accordance with FIFA’s expenses regulations (CHF 2,000 per month)
Annual gross salary: CHF 1,300,000
Bonus for 2016: 0
Benefits: Car and contribution for expenses in accordance with FIFA’s expenses regulations (CHF 2,000 per month)
The Compensation Sub-Committee decided that bonuses would not be awarded for 2016 because the Sub-Committee members, the President and the Secretary General believe that FIFA’s current compensation policy is inadequate and open to malfunction and misuse. Bonus payments from 2017 onwards will be awarded in accordance with objective criteria related to FIFA’s mission and operations as well as the outcome of the organisational reforms that are currently being implemented.
All elements of the contracts of the President and Secretary General are in line with Swiss law and FIFA rules and regulations. All amounts paid this year will be presented in FIFA’s 2016 Financial and Governance Report. The Compensation Sub-Committee will regularly monitor the implementation of the contracts to ensure full compliance.
Furthermore, the Compensation Sub-Committee will conduct a comprehensive review of FIFA’s compensation policy and develop a new draft policy in the coming months that adheres to the organisation’s commitment to transparency and good governance. The FIFA President’s annual compensation represents less than 25% of his predecessor’s compensation (average for 2010-2015 including bonuses). The FIFA Secretary General’s annual compensation likewise represents less than 25% of her predecessor’s compensation (average for 2010-2015 including bonuses).
Tomaz Vesel, Chairman of the FIFA Compensation Sub-Committee: “Dr Peter Braun, Mr Issa Hayatou (Chairman of the FIFA Finance Committee) and I are very satisfied with the outcome of this process which has been transparent and responsible. The compensation amounts in our view are absolutely appropriate considering the challenging duties of the President and the Secretary General. The FIFA President plays a key role as the leader of FIFA. He leads the organisation, setting its overall strategy with a clear mission to develop and protect the game. He also has a great responsibility with regard to the reform process that has begun at FIFA. The Secretary General ensures that the FIFA administration operates effectively in support of its mission to develop football and support member associations around the world. Importantly, both executives play a key role in implementing the reforms that are so important to FIFA’s future.
“It is very clear to the members of the Sub-Committee and President Infantino that FIFA needs a new compensation policy. That is why it was proposed that no bonus would be paid in 2016 to the President and the Secretary General. Historic shortcomings demonstrate that the present policy is inadequate. We will be reviewing the policy with an eye towards developing a new draft that is in keeping with the organisation’s commitment to good governance and transparency, one that will seek to prevent excessive payments as unfortunately happened in the past. As part of this review, we are carefully examining all payments made to previous FIFA management.”
Gianni Infantino, FIFA President: “Given the earlier misunderstandings and misrepresentations concerning this process and my compensation, I am pleased that this matter is now resolved and that I have a signed, valid employment contract. I am satisfied that the framework of the talks I had with the Compensation Sub-Committee were transparent and open-minded.
“Further, the financial elements of the contract reflect more than any word can my strong will to end the types of behaviour that, in the recent past, have led to abuses. Today’s announcement demonstrates the importance that FIFA’s new leadership places on transparency and good governance. I am particularly happy that the Compensation Sub-Committee will be reviewing the current compensation policy and developing a new and improved policy. I am determined that abuses of the system will not happen under my presidency.”
• This media release was originally published by FIFA on 31 August 2016. To view the original, please click here.
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