Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

goldfieldsBloomberg reports that Nick Holland was the top-paid CEO of SA’s four biggest gold producers even as Gold Fields fell last year and had a lower market value than AngloGold Ashanti.  

Holland, who became a lightning rod for investor anger over executive pay three years ago, received $2.83m (R41.5m) last year, 8.8% more than a year earlier, Gold Fields said in its annual report published last week.  Returns from the producer’s shares, including dividends, plunged 19% in the period.  Old Mutual fund manager Michael Schroder accused gold executives, including Holland, of "personal greed" amid poor performance.  AngloGold paid CEO Srinivasan Venkatakrishnan $1.9m (R27.9m) last year, 28% more than in 2015, after forgoing bonuses in previous years.  Sibanye Gold’s Neal Froneman received R19.9m in 2015, a 55% increase on the previous year.  Graham Briggs, the former CEO of Harmony Gold, was the lowest-paid leader of the four largest producers, taking home R10m, a slight decrease from a year earlier.

  • Read this report by Kevin Crowley in full at BDLive

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