Sasol slashes management salaries — starting with its CEO
The synthetic fuel and chemicals group is scrambling to cut costs as oil prices and fuel sales plummet
23 April 2020 - 19:33
Sasol has announced sweeping salary cuts as part of the “self-help” measures the group is implementing to avoid a rights issue amid a drop in oil prices and lower sales.
Fleetwood Grobler, the CEO of the fuel and chemicals producer, will lead the charge and donate 33% of his salary to the government’s Covid-19 response initiative, the Solidarity Fund, for three months. Thereafter Grobler will take a 20% salary cut each month until December, the synthetic fuel and chemicals producers announced on Thursday. ..
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