pratlou
Senior Member
Bob van Dijk, former CEO of Prosus and Naspers, the interlinked companies effectively part of the same group, was paid throughout the last financial year (to end March), despite stepping down on 18 September 2023. He received a base salary of $1.469 million, equal to R27.5 million at the average rate of exchange across the 12 months.
The group says, “Bob remained eligible for the STI for FY24 and the payment made was contingent on the achievement of the applicable targets and objectives set for Bob for FY24″.
From 1 April 2024, he is being paid under a consultancy agreement for six months “to allow for a smooth transition”. Over this time, he is being paid a gross fee of €113 436.18 per month (about $122 000), which equates to a total of $730 000, or R13.7 million.
At the end of March 2024, he had unvested awards across the various long-term incentive schemes with a total value of $224 million, or R4.2 billion.
CFO Basil Sgourdos was paid a total of $10.544 million in FY24 (R198 million). As with Van Dijk, nearly 90% of his total remuneration was variable (in other words, either in the form of short-term or long-term incentives).
Curiously, the group says that because Ervin Tu was appointed as interim CEO after Van Dijk’s (forced?) departure, his “remuneration is not included separately in this report due to the interim nature of his appointment”. Quite how the human resources and remuneration committee have squared this circle is anyone’s guess.
www.moneyweb.co.za
The group says, “Bob remained eligible for the STI for FY24 and the payment made was contingent on the achievement of the applicable targets and objectives set for Bob for FY24″.
From 1 April 2024, he is being paid under a consultancy agreement for six months “to allow for a smooth transition”. Over this time, he is being paid a gross fee of €113 436.18 per month (about $122 000), which equates to a total of $730 000, or R13.7 million.
At the end of March 2024, he had unvested awards across the various long-term incentive schemes with a total value of $224 million, or R4.2 billion.
CFO Basil Sgourdos was paid a total of $10.544 million in FY24 (R198 million). As with Van Dijk, nearly 90% of his total remuneration was variable (in other words, either in the form of short-term or long-term incentives).
Curiously, the group says that because Ervin Tu was appointed as interim CEO after Van Dijk’s (forced?) departure, his “remuneration is not included separately in this report due to the interim nature of his appointment”. Quite how the human resources and remuneration committee have squared this circle is anyone’s guess.
Prosus is still paying former CEO Van Dijk
And will pay him additionally for some share options he’ll forgo.
www.moneyweb.co.za
