Sasol gets slap from unhappy investors
More than half of shareholders reject remuneration of former CEOs Stephen Cornell and Bongani Nqwababa, who were cumulatively paid almost R100m
20 November 2020 - 18:47
UPDATED 22 November 2020 - 22:52
A large portion of Sasol shareholders have voted against the group’s remuneration policy and implementation plan, expressing their displeasure over golden handshakes paid to the former joint CEOs who stepped down over the disastrous Lake Charles Chemicals Project.
At the Sasol annual general meeting on Friday, 28% of shareholders voted against the fuel and energy group’s remuneration policy and 56% voted against the implementation report which detailed how former joint CEOs Stephen Cornell and Bongani Nqwababa were cumulatively paid almost R100m, of which R35m was for “mutual separation”...
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