NZX Director Remuneration Guide FY2025

Q: How much did NZX directors earn in FY2025?

The average NZX director fee in FY2025 was approximately $127,507 per year across 563 directors at 110 companies.

Q: What was the highest director fee on the NZX in FY2025?

The highest director fee recorded in FY2025 was $1,574,985.

Q: Do NZX directors get paid extra for committee work?

Yes, most NZX directors receive additional fees for chairing or serving on board committees such as Audit & Risk, Remuneration, and Nomination committees. Committee chair fees typically range from $10,000 to $25,000 annually.

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Insights/Director Pay/FY2025

NZX Director Pay FY2025

Board remuneration across 110 NZX-listed companies

FY2024 All Years FY2026

We analyzed remuneration data from 563 directors across 110 NZX-listed companies for financial year 2025.

$127,507

Average Fee

$106,500

Median Fee

$1,574,985

Highest Fee

563

Directors

Top Earning Directors (FY2025)

Highest paid board members in FY2025 — 665 fee records across 110 companies

Rank	Director	Company	Total Fee
1	Michael Daly	KMD KMD Brands Limited (KMD)	$1,574,985
2	Glenn Milnes	IKE ikeGPS Group Limited (IKE)	$1,225,723
3	James Richard Glasson	HLG Hallenstein Glasson Holdings Limited (HLG)	$934,000
4	Nick Lissette

Director Pay by Sector (FY2025)

Average director fees across industries

Utilities$176,827

34 fee records

Consumer Discretionary$168,169

69 fee records

Materials$149,241

40 fee records

Communication Services$141,128

28 fee records

Director Fee Ranges (FY2025)

$10,616

Minimum Fee

Smaller companies, partial year

$106,500

Median Fee

Typical mid-cap company

$1,574,985

Maximum Fee

Large cap chair/committee roles

Key Insights — FY2025

Chair Premium

Board chairs earn approximately 50% more than regular directors on average, reflecting their leadership responsibilities.

Coverage

FY2025 covers 665 fee records across 563 directors at 110 companies.

Sector Variation

Utilities pays the highest average director fees at $176,827. Real Estate pays the least at $104,853.

Research Director Pay on NZXplorer

Company Profiles: Visit any company page to see director fees in the board composition section.
Director Profiles: View individual director profiles to see remuneration across all board positions.
Pay for Failure: Check our Pay for Failure analysis to see if director pay aligns with performance.
All Years: View all annual reports to compare trends over time.

Data sourced from NZX company annual reports. Last updated: 20 April 2026.

Related Insights

Compensation Benchmarks

Board fee and executive pay percentiles by sector and market cap

Chair Remuneration Benchmarking

Chair premium vs NED fees by sector, market cap, and gender. Per-company outlier detection. First chair pay analysis in NZ.

Board Fee Trends: Above & Below Average

Which NZX companies consistently pay above or below market rates for director fees over time?

Data sourced from publicly available records. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.