Despite the tough economic environment this year, on average most CEOs still managed to pocket a salary greater than R20m.
Previously, it was reported that the average increase in CEOs’ salaries was 11%, since 2009.
The JSE company CEOs whose salaries created a stir this year include Shoprite’s Whitey Basson, whose pay was doubled to R100.1m. Shortly after, Basson announced his retirement after serving at the retailer for 37 years.
Old Mutual’s Bruce Hemphill’s salary also came into question this year. Hemphill was to earn 1 000% of his base salary, essentially boosting it from R20.3m to R203m.
Of all the CEOs on the JSE Top 40 list, Maria Ramos of Barclays Africa was the only woman. Ramos earned a basic salary of R14.5m and a total package with benefits of R28.2m in 2015.
We compiled a list of the JSE Top 40’s highest earning CEOs for the 2015/2016 financial year. This list considers the total remuneration package of South African CEOs, including performance incentives.
1. Alan Clark, SABMiller
SABMiller’s CEO Alan Clark was the highest earning JSE Top 40 CEO, walking away with a total package of R122.8m (£7m) for the 2015 financial year, before the group merged with Anheuser-Busch InBev (ABInBev) in 2016.
2. Bruce Hemphill, Old Mutual
Hemphill’s salary is paid in pounds. According to the group’s 2015 annual integrated report, he earned a basic salary of R26m. His total package amounted to R83.6m.
3. Markus Jooste, Steinhoff International
Jooste’s salary, paid in euros, amounted to R79.1m, according to the groups’ annual report for 2016. Jooste earned a basic salary of R40.1m. He has been with the international household retailer since 1988.
4. Whitey Basson, Shoprite
Basson’s basic salary in 2016 came to R49.6m. His company paid him a total of R100.1m after including a one-time R50m performance bonus. Basson had not received a basic pay increase since 2013 and no one-time payments for five fiscal years. The bonus was also for his long service to the company.
5. Mike Brown, Nedbank
Brown earns a basic salary of R7.4m, but his total remuneration package amounts to R36.4m. This is greater than Standard Bank’s joint-CEOs Barend Kruger and Simpiwe Tshabalala, who earned R30.7 and R30.9m respectively. Whereas Capitec CEO, Andrew du Plessis earned R10.6m.
Mediclinic CEO, Danie Meintjes, although paid in pounds, took home the least among all the JSE Top 40 CEOs, with R1.4m.