[miningmx.com] – VALLI Moosa, chairman of Anglo American Platinum (Amplats) said the board was behind its CEO, Chris Griffith, who last week embroiled himself in a salary row after he said he was worth the millions that could be paid to him in share-based incentives and bonuses.
Miningmx reported on May 19 that Griffith had awarded shares worth just over R4m in terms of the company’s bonus share plan, and a further R11m if performance targets are met over three years in terms of the long-term incentive plan.
In an interview with BDLive, Moosa said: “I have always known him to be genuinely attuned to and sensitive to the views of stakeholders and the staff of Amplats. The board has full confidence in both Mr Griffith’s integrity and his capabilities. Among his peers globally, he is considered to be exceptional”.
Last week, Griffith apologised in a letter issued to several newspapers after he was quoted in BDLive as saying: “Must I run this company and deal with all this nonsense for nothing? I’m at work. I am not on strike. I am not demanding to be paid what I am not worth.”
His comments come amid a strike in the platinum sector, now in its 17th week, in which members of the Association of Mineworkers & Construction Union are demanding a basic R12,500/month wage. Amplats has said the demand is unaffordable.
In his apology, Griffith said: “My choice of words was inappropriate and a poor way to describe the extremely challenging situation. . I want to reassure your readership that I care deeply about the impact of this strike on the lives of our employees .. However, Amcu’s demand for a minimum basic wage of R12,500 remains unaffordable as it would increase our costs by (about) R4.5bn per annum.”
Said Moosa in BDLive today: “The decision . to apologise was his and his only. He had called me only after he had taken the decision and then only to inform me that he was about to issue a public apology.
