Today's Labour News

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firstrandBusinessLive reports that FirstRand executives and former executives of the group pocketed R127.7m as options, shares and bonuses awarded two and three years ago vested during its 2017 financial year.  

Former CEO Sizwe Nxasana was the most handsomely paid, taking home R32.1m after his long-term incentive shares and performance shares awarded in 2014 and 2015 matured in September 2016, according to the banking group’s annual report released on Tuesday.  Nxasana retired in 2015.  Incumbent Johan Burger was not too far off, with R29.1m in vested incentives, followed by deputy CEO Alan Pullinger at R20.9m.  FNB CEO Jacques Celliers raked in R13.4m, Wesbank boss Chris de Kock R11.4m, RMB’s James Formby R11m, and group chief financial officer Harry Kellan R9.7m.  FirstRand chairman Laurie Dippenaar said he was comfortable with the banking group’s remuneration policy, as it had three "health checks" to keep pay in line.

  • Read this report by Moyagabo Maake in full at BusinessLive


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