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Top 20 Highest Paid Executives In South Africa

Top 20 best paid executives in South Africa

The Sunday Times has released its Rich List for 2015, which includes the names of the 100 richest people in the country, as well as the 100 top earners.

The list was compiled by Who Owns Whom, which extracted the shareholdings of executives in JSE listed companies, using market prices reflected on November 30, 2015.

As part of the rankings, the group also tracked executives’ total remuneration packages for the 2014 financial year.

Topping the remuneration ranking is Richemont South Africa joint-CEO, Bernard Fornas, who took home a total pay package of R88 million in 2014.

Richemont South Africa’s other joint-CEO, Richard Lepeu, took home the third biggest amount in 2014, according to the Sunday Times’ criteria, with a total pay package of R85.1 million.

Investec executive director Hendrik du Toit was the second-highest paid executive in 2015, with a significant performance bonus which took his final paycheque to R86 million for the year.

The ranking uses reported salary data from each listed company’s 2014 annual reports. In the 2015 full year, SAB Miller CEO Alan Clark took home the rand equivalent of R150 million for the year – however his 2014 salaryw as only the 10th biggest at R49.7 million.

20 highest paid executives in South Africa

# Executive Company and role Total earnings 2014 (R’000)
1 Bernard Fornas Co-CEO Richemont SA 87 972
2 Hendrik du Toit Executive director Investec 86 068
3 Richard Lepeu Co-CEO Richemont 85 105
4 Mark Cutifani CEO Anglo American 66 948
5 David Hathorn CEO Mondi 66 840
6 Nicandro Durante CEO BAT 59 466
7 David Constable CEO Sasol 51 962
8 Glyn Lewis CEO Northam Platinum 51 471
9 Whitey Basson CEO Shoprite 49 972
10 Alan Clark CEO SAB Miller 49 734
11 Kevin Gallagher Operations Director Murray & Roberts 48 932
12 Rene Medori Financial Director Anglo American 47 900
13 Gary Saage CFO Richemont 46 716
14 Ben Stevens Financial Director BAT 46 353
15 Peter Oswald Executive Director Mondi 46 095
16 Andrew Mackenzie CEO BHP Billiton 41 157
17 Frederick Mostert Executive Director Richemont 39 829
18 Markus Jooste CEO Steinhoff 38 492
19 Ingrid Johnson Financial Director Old Mutual 35 629
20 Simon Crutchley CEO AVI 34 393

According to the Sunday Times, the biggest winners were executives being paid by dual-listed companies, where the rand’s weakness in 2015 lead to favourable conversion rates in salary.

In the local tech sector, former MTN CEO Sifiso Dabengwa’s R28 million pay in 2014 lead the charge (27th overall), followed by Datatec CEO Jen Montana with R19.3 million.


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