I hope Nathan Cheiman's letter on CEO pay was written tongue-in-cheek (Give CEOs their due (https://www.businesslive.co.za/bd/opinion/letters/2020-09-02-letter-give-ceos-their-due/), September 2). If not, it perfectly reflects what is wrong with the attitude of company directors in SA and elsewhere.
As I understand the matter, directors are appointed by the shareholders, and the “old boys' club” in many instances, and remunerated by that company's remuneration committee, also appointed by the old boys' and fellow directors' club. The people who do the real work are noticeably absent from this cosy dog-feeds-dog arrangement...
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