The GMA trio showered themselves and top executives and directors of GMA Network with a huge jump in compensation in 2021, including P572 million in bonuses.
Gozon, chairman and CEO, and the other top five highest executives of GMA – president and COO Duavit, EVP and CFP Felipe Yalong, SVP and news chief Marissa Flores, chief marketing head Lizelle Maralag, and SVP Ronaldo Mastril – received P640.606 million in total salaries and bonuses in 2020, 38 percent more than the P460.727 million they received in 2019.
GMA’s directors – including Jimenez; Gozon’s daughter, Anna Teresa Valdes ; Duavit’s sister, Judith Vazquez; Jimenez’s sister, Laura Westfall; former Chief Justice Artemio Panganiban; and former central bank governor Jaime Laya – were given a massive bonus of P183.608 million in 2020, up 145 percent from P74.65 million in 2019.
The rest of GMA’s top executives had their wallets fattened with P654.22 million in salaries and bonuses in 2020, up 16 percent fro P566 million in 2019.
GMA’s owners could afford to be generous after smashing all financial records in the pandemic-crippled year.
GMA reported a net profit of P6 billion in 2020, up 128 percent from P2.639 billion the previous year largely due to the extraordinary surge in advertising sales owing to the shift in placements as a result of the expiration of rival ABS-CBN’s franchise.