Financial package

Reference is made to the front-page article entitled 'Troubled FTS gets new CEO' (December 28) and, in particular, to the statement "The package is about €20,000 more than that of his predecessor". The conclusions drawn in the article regarding the new CEO's remuneration are not correct. The salary of the new CEO is, in fact, less than that of the former one. It needs to be clarified that, as already stated in the press release issued by FTS on December 27, the role of chief operating officer (COO) at the FTS is being abolished since the responsibilities will be integrated within the new... This article is part of our premium content. Full story is available on Times of Malta Premium.

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