Today's Labour News

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earningsFin24 reports that according to a new report by PwC, CEOs at South Africa‚Äôs largest JSE-listed companies earned total remuneration packages of R24.9m on average last year.  

"The average pay for CEOs is R24.9m.  For CFOs (Chief Financial Officers) the average is R15.1m and for executive directors R8.7m," PwC's 10th edition of Executive directors: Practices and remuneration trends, indicates.  The report looked at remuneration trends, gender balances and pay reporting requirements at SA companies for 2017.  The R24.9m refers to "total guaranteed packages" for the heads of the top 10 listed companies on the JSE, which the report noted accounted for 60% of the market capital invested, totalling R8.7trn.  For the top 10 CEOs this was 1.3% up on the figure of R24.6m in 2016.  Average pay for the top 10 CFOs rose almost 10%, while average pay for the top 10 executive directors rose 12.8% compared to 2016.  The report found that only 2.2% of the CEOs at JSE-listed companies were women.  In a media release to coincide with the report, PwC said it was not yet clear how the recent exposure of financial misconduct at some major SA companies would affect executive pay.

  • Read this report in full at Fin24

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