[miningmx.com] – MINING sector chief executives pay themselves twice as much as other top executives on JSE companies, said BDLive citing a report by PwC.
According to information from the annual reports of listed companies for the 12 months ended April, mining bosses received a 9.3% raise in guaranteed pay, while the average increase for executives was 4.5%, said BDLive.
Average guaranteed remuneration was R3.1m, but for CEOs of 11 large resource companies, it was R8.8m. Guaranteed pay excludes shares and performance incentives, and usually makes up about a third of total packages, it said.
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