Laurence Grubb (MD)'s discusses trends in directors remuneration with host Jeremy Maggs on Hot Business - https://iono.fm/e/1486637
The amended Companies Act, which includes the proposals which were included in the Companies Act Amendment Bill (CAB) has been gazetted but not yet promulgated, with no implementation date announced, leaving companies uncertain about compliance for the upcoming financial year.
The public consultation processes on the amendments to the South African Companies Act 71 of 2008 (the Act) appears to have been concluded, with the following main changes to the Act that affect remuneration governance and reporting likely to soon be signed into law:
Executives follow the money. If your strategy points one way and your remuneration another, people will follow the money.
The conflict surrounding executive pay in South Africa reflects a complex interplay of diverse interests among various stakeholders, including the media, general society, shareholders, government, executives themselves, and boards with remuneration committees.
Khokhela’s Actual / Predicted Increase Survey for 2023 shows that the average increase in salaries in 2023 was 6.0%. This is in line with the year-to-date average inflation rate of 6.04%.
As of Monday, Bob van Dijk is no longer the CEO of Naspers and Prosus. However, over his 9-year tenure at the helm, he received over R1.5 billion in salaries, bonuses, and long-term incentives. Averaged out over his entire tenure, this works out to be more than R470,000 a day
Cross-border work refers to employment or job activities that involve individuals working in a country other than their own. It often implies working in a different jurisdiction with different labor laws, immigration regulations, and tax requirements.
The covid-pandemic created a need for a change in how we work. This led to many businesses allocating more resources towards employee wellness programs, which gave rebirth to the four-day work week.