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BDLive reports that Murray & Roberts (M&R) paid CEO Henry Laas R14.7m in the financial year to June, made up of R5.9m in guaranteed pay, R6.4m in short-term incentives and R24m in long-term incentives.
This was even as the construction group’s net profit declined for the third year in a row, and executives failed fully to meet a number of targets to unlock short-term bonuses. Nine current and former executives were paid a cumulative R14.3m in bonuses. Shareholder activist Theo Botha said the performance targets appeared low and were easily achievable. In his opinion, the executive bonuses were excessive in the light of the poor share price performance.
- Read this report by Moyagabo Maake in full at BDLive
Get other news reports at the SA Labour News home page