goldfieldsBDLive reports that Gold Fields directors were quizzed at its well-attended annual general meeting on Wednesday about changes to performance measures for management remuneration and their response to silicosis.  

Shareholders’ and employees’ dissatisfaction at increases in executive pay has been an issue for companies everywhere in recent years.  In the year to December, Gold Fields CEO Nick Holland earned a total of R35.9m in salary, pension, bonus and share proceeds, from R28.2m in 2014.  Mehluli Mncube, representing the Sentinel Retirement Fund, Eskom Pension Fund and Mines Pension Fund, asked about the implications for Gold Fields of the recent court decision to allow former gold mine workers seeking compensation for silicosis to institute a class action.  He also asked what Gold Fields was doing on its mines to prevent silicosis.  Holland said the court judgment was long and Gold Fields’ counsel was still reading it, so it was not yet possible to comment.  At its mines, Gold Fields was tackling silicosis by educating employees about the risks and the measures they had to take to protect themselves.

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