AOC Executives take voluntary paycut to balance books
Australian Olympic Committee CEO, Matt Carroll and seven senior AOC management staff have agreed to each take a voluntary 20% pay cut as a consequence of the coronavirus.
The cut however, isn’t likely to affect the hip pocket of Mr Carroll who will still be swimming in a healthy annual base salary of close to $440,000 plus a $37,500 bonus for his 2019 performance.
In a statement, AOC President John Coates thanked Matt Carroll and the seven members of the Senior Management Team for volunteering these cuts in an attempt to balance the books.
“These cuts, and net savings arising from the postponement of the Tokyo 2020 Olympic Games to 2021, will ensure the AOC balances its books for both 2020 and the four-year cycle ending 31 December 2020.” Mr Coates said.
“The AOC, through prudent financial management over the years and now these contributions by our CEO and his Management Team, is able to continue to fund our Olympic and other teams and provide direct assistance to athletes, while retaining our long held independence, including financial independence, from Government.”
“This is particularly critical in these challenging times as Government looks to support so many Australians of all ages and not-for-profit community and other sports bodies who are doing it tough.”