[miningmx.com] — PARLIAMENT has lifted the lid on former Alexkor CEO Khetiwe Maseko-McClain’s time in office at the state-owned diamond miner, soon after her three-year term came to an end in September.
The Minister of Public Enterprises, Malusi Gigaba, was asked by a member of parliament to disclose Maseko-McClain’s remuneration package, directorships held elsewhere as well as the cost incurred for her frequent travels between Johannesburg – where Alexkor’s head office is based – and Alexander Bay at the mining operations.
Gigaba said in a written reply Maseko-McClain was paid R2,339,950, although Alexkor’s annual report for 2011 stated McClain’s payment for the 12 months to end-March as R2,439,983.
McClain left Alexkor on September 22 pursuant to the expiry of her contract, after which former CFO Berno Lategan was appointed interim CEO.
The group announced in October it was shopping for new assets, not only in South Africa but elsewhere in Africa as well, for which it was looking to raise between R200m and R250m.
Alexander Bay itself would be run by an independent management team, following the formation of a joint venture with the Richtersveld Mining Community. The venture has also received R200m from the department of public enterprises.
“The job description, the remuneration package and the required qualifications of the CEO are being reviewed in line with the new strategic direction,’ read Gigaba’s answer.
Gigaba said the former agreement with McClain stated she would not be based in Alexander Bay but “would visit as and when required’. She travelled 29 times to Alexander Bay between April 1 2010 and April 7 2011. “On average, she visited the area two or three days per month.’
Gigaba said the cost of a chartered flight between Johannesburg and Alexander Bay amounted to R45,020.78, necessary due to the dearth of commercial flights to that area of the Northern Cape. However, he said the total amount spent on chartering flights were R178,628.50, without given details about the cost of other means of transport.
Maseko-McClain is also a non-executive director of Village Main Reef.
