THE decision by Sasol’s remuneration committee to change the key
performance indicators (KPIs) for executives to reduce the weighting of
company earnings, in a year when Sasol’s earnings were hit by a slump in
oil prices, came under fire at the group’s annual general meeting (AGM)
on Friday.
In the year to June, the influence of company earnings
in determining executives’ short-term incentives was reduced to 35%
from 55% last year. Sasol’s headline earnings a share fell 17% in this
period compared with last year.
According to the annual report,
the net base salary earned by CE David Constable — who, as an
expatriate, is paid in dollars — rose 4% to $935,618 this year from
$899,633 last year, while his net short-term incentives fell 40% to
$1.03m from $1.7m.
