Company Comment
Nedbank takes lead in belt-tightening
Company freezes remuneration increases for its top executives, something the government could do well to emulate
04 March 2020 - 18:23
In a symbolic gesture that should be paraded around the corridors of power by the likes of Business Unity SA, Nedbank announced at its annual results presentation on Tuesday that it would be freezing increases for its top echelon of executives as the tough economy bites.
The announcement, made by CEO Mike Brown, extends to a group of about 80 members of executive committees, beginning at head office level (including Brown himself and CFO Raisibe Morathi) and extends downwards to all business divisions...
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