SBD Global/February 7, 2014/International Football
FIFA Scraps Bonuses For Senior Executives Over Risk Of 'Unethical Behavior'
Published February 7, 2014
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FIFA ditched bonuses for its exec board, a group that has "come under scrutiny in recent years because of several corruption cases," according to Tariq Panja of BLOOMBERG. The FIFA Exec Committee, responsible for approving billions of dollars’ worth of TV and sponsorship agreements, "is made up of 25 officials from six continents." Domenico Scala, appointed head of a new audit and compliance body in '12, said that execs "agreed to scrap the bonuses after he argued that they created a risk of unethical behavior." In its '12 financial report, FIFA said it paid $33.5M to “key management personnel,” who included the exec board and finance committee. The officials do not have "employment contracts that specify bonuses" so they can not appeal the change. FIFA President Sepp Blatter determined the bonuses "based on the organization's financial performance." Scala did not say how much the bonuses were worth, but said the were "significant" (BLOOMBERG, 2/6