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South African Businessman Niel Pretorius Earns over $1 Million in 2023

Niel Pretorius, CEO of Johannesburg-based DRDGOLD Limited, got a remuneration package of R20.51 million ($1.09 million) in 2023.

Pretorius, who became CEO in January 2019, saw a 2.61 percent increase in his salary package in 2023, compared to the R19.99 million ($1.06 million) he received the previous year.

His compensation package included a basic salary of R8.17 million ($0.43 million), a short-term incentive of R7.73 million ($0.41 million), and a long-term incentive of R3.29 million ($0.18 million).

DRDGOLD Limited, a South African gold miner specializing in metal recovery from surface tailings retreatment, operates through core segments such as Ergo and FWGR. As of 2023, the company is listed on both the Johannesburg Stock Exchange and the New York Stock Exchange, and it has paid dividends for the past 16 years.

Pretorius, who has two decades of expertise in the mining business, became CEO on January 1, 2009, following his appointment as CEO designate in August 2008. He started at DRDGOLD in May 2003 as a legal advisor and worked his way up to become group legal counsel and general manager.

Pretorius joined Ergo Mining Operations (previously DRDGOLD SA) as CEO on July 1, 2006, and was later promoted to managing director on April 1, 2008. He is also an elected council member of the Minerals Council of South Africa.

In 2023, Pretorius led DRDGOLD to significant financial growth. Total assets climbed by 15.2 percent, from R7.08 billion ($376.54 million) to R8.15 billion ($433.78 million).

The company’s revenue increased by 7.39 percent to R5.49 billion ($292.38 million), up from R5.12 billion ($272.27 million the previous year). Furthermore, gross profit increased by 15.1 percent, to R1.58 billion ($84.32 million) from R1.38 billion ($73.25 million) in 2022.

Aside from his executive obligations, Pretorius owns a 0.12-percent ownership in DRDGOLD, which equates to 999,816 shares valued at R14.99 million ($0.79 million), linking his personal interests with the company’s continued growth.

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