Naspers’s remuneration committee, which was recently criticised for the inappropriately generous remuneration given to CEO Bob van Dijk, has awarded him a long-term incentive with a fair value of $10.4m in financial 2017. The long-term incentive, which is described as part of Van Dijk’s fixed pay, comes in addition to his $2.2m pay. During the year to end March 2017, Van Dijk took ownership of 284,031 Naspers N shares awarded to him as part of a previous remuneration package. These shares, which are the only shares owned by Van Dijk, had a market value of R795m on Friday. He also picked up $8.3m in share appreciation rights during 2017. Chairman Koos Bekker has retained his 4.7-million Naspers N shares, which are now worth R13bn. In June, Swiss-based investment adviser Albert Saporta described Naspers’s remuneration policy as "intellectually dishonest" in an open letter to the Naspers board. Saporta was calling on the board to spin off the group’s enormously valuable 33% holding in ...

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