How does that work? The only thing I can think of is HR and the Board (and possibly external remuneration advisors) came up with some incentive for the CEO to reduce maintenance costs or increase patronage with no costs increase. That would make HR and the Board complicit in something that would be very wrong to call out here.
Either way perhaps the CEO isn't up to this job and should consider alternatives, it's not exactly a weekly goss magazine run with latte in hand.