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Miguel Frasquilho, Chairman of the Board of Directors of TAP, waived the net monthly increase of € 1500 in his remuneration, the day after the controversy over the salaries of TAP administrators broke out, through a statement sent to Expresso in which he justified that this did not correspond to an increase in costs for the airline (and where he highlights that the cuts in management superior to workers). With a dossier that burns in hand, and that has political effects on both the left and the right – Bloco e Rui Rio already criticized the increases -, Pedro Nuno Santos, Minister of Infrastructure, forced the president of the company to withdraw this part of the salary which amounts to 12 thousand euros per month, instead of the 13.5 thousand euros decided at the end of October. But it did not do the same with the other increases.
As the minister does not have the power to set salaries – which are decided by the Remuneration and Remuneration Committee – the director himself had to reject the increase he had already accepted. However, Pedro Nuno Santos, knows Expresso, agrees with Ramiro Cequeira’s salary increase, who will earn double by promoting Director of operations (COO) the interim CEO of the company that is the subject of a deep restructuring plan with thousands of layoffs and salary cuts: in the new functions, Sequeira will earn 35 thousand euros, when he received 17 thousand euros as director of operations. The minister agrees with this increase because the manager earned less than Antonoaldo Neves (the former CEO) and why failed to win under the other members of the executive committee, as the source close to the minister explains to Expresso. Frasquilho’s case is considered different because it was only a sum of functions in Portugália to those he already had in TAP.
Not reported, or President of the company justifies having abdicated the increase because it wants “participate in the conversations and negotiations that will be fundamental for the future of TAP in an absolutely peaceful way and without any associated media coverage that could harm the company ”. And it assumes that it renounces these “conditions as of October 28”.
Frasquilho explains that “There was no cost increase for TAP” with the increase in his salaries, due to the assumption of new functions: he was elected president of the board of directors of TAP and Portugália on October 28, succeeding Humberto Pedrosa, “due to his resignation from the positions of director.” He played in the TAP Group. “And he highlights that it was not by choice that he received the increase:” At that time, without any intervention on my part, they transferred to me, due to the presidencies and the increased responsibilities that I assumed, “he writes .
But I would like to remind you that the Board of Directors that I lead for me has always set an example in salary cuts, which, in addition to the terrible pandemic that has hit us all since the beginning of 2020, “says the president in the statement. “That is, with more pronounced wage cuts than for other workers”.
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