SIA CEO Goh Choon Phong Earned S$6.73M In FY2022/2023, Most Came From Bonuses & Shares

SIA CEO Goh Choon Phong Earned S$6.73M In FY2022/2023 After Remarkable Year For Airline

Singapore Airlines (SIA) Chief Executive Officer (CEO) Goh Choon Phong earned a total of S$6.73 million in the past financial year ending 31 Mar 2023.

SIA released its annual report on Wednesday (28 June).

Most of the increases came from bonuses of S$2.96 million as well as shares and benefits, which gave him an additional S$2.63 million.

SIA CEO Goh Choon Phong was paid S$6.73 million

According to the report, Mr Goh earned a total of S$3.59 million in the previous financial year.

This means the bonuses he received gave him an 86% increase in his pay.

His base pay for this financial year is S$1.14 million.

According to Bloomberg, this S$1.14 million is also lower than before the pandemic.

Earnings bounce back after pandemic

SIA reported a record net profit of S$2.16 billion last year, a remarkable turnaround from losses of S$962 million just a year before.

The airline previously announced profit-sharing bonuses of at least 6.65 months.

Additionally, ex-gratia bonuses of at least 0.5 months were given to eligible employees for each of the past three years.

Senior management did not receive this additional bonus.

Became CEO in 2011

Since joining SIA in 1990, he has held management roles overseas and locally, including in China and Scandinavia, according to Star Alliance.

He was then promoted to CEO, effective 1 Jan 2011.

Previously, he was the executive vice president of marketing.

Mr Goh has a Master of Science in Computer Science and Electrical Engineering.

He also holds three Bachelor of Science degrees, all from the Massachusetts Institute of Technology.

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Featured image adapted from CNA on YouTube.