Fin24 reports that Naspers has denied that its CEO Bob van Dijk earned R1.6bn in the year ended March 2018, indicating that he has not yet cashed in his share options.  

This came after TechCentral reported on 20 July that Van Dijk had collected approximately R1.6bn in different forms of remuneration in the past financial year.  In a follow-up report on Monday, Business Day observed that Naspers would be heading for a stormy annual general meeting as shareholders "demand an explanation for the R1.6bn collected by the CEO".  Aileen O’Toole, Naspers Chief People Officer, advised:  "Bob van Dijk’s total cash take for the year was $2.4m.  This puts his total cash receipt at the lower end of the cash pay scale of global industry competitors.  None of his share-based incentives, even those that vested, were cashed in."  According to Naspers' remuneration report, Van Dijk earned $2.4m (about R32m) in cash in the year ended 31 March 2018.  This included a salary of $1.332m (R17.75m) and a bonus of $1.064m (R14.18m).  Not included were his share options, which run into hundreds of millions of rands.  The reported R1.6bn figure was arrived at by combining all the different types of remuneration listed in the company’s remuneration report for 2018.  The Federation of Unions of SA (Fedusa) on Tuesday called on Naspers’ shareholders to use the United Nations Principle of Responsible Investment to probe Van Dijk’s total salary package.

• Read this report by Tehillah Niselow & Jan Cronje in full at Fin24
• Read Fedusa’s press statement at SA Labour News

Get other news reports at the SA Labour News home page