First Take SA

Remuneration pkg to Sibanye CEO indicates wage gap


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The South African Federation of Trade Unions (SAFTU) says the 300 million rand remuneration package paid by Sibanye Stillwater to its Chief Executive Officer CEO, Neal Froneman, is a typical indicator of why the wage gap between workers and directors is wide. Neal Froneman has meanwhile defended the payment, saying the package consists mostly of long-term share incentives and the process was transparent. This as workers at the mine's gold continue with their strike action, demanding a 1-thousand rand salary increase while the company offers an R850 per month increase for entry-level employees. For more on this Elvis Presslin spoke to SAFTU national spokesperson Trevor Shaku

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