out of whack
SA CEOs: paid for perfection but delivering mediocrity
A long list of companies have destroyed shareholder value as a result of poor management decisions or behaviour that falls way short of good governance standards. But regardless of how they perform, one thing has remained distressingly constant – exceedingly generous levels of executive pay. It seems our top executives all too often are being paid for perfection while delivering mediocrity at best
By May the SA business cycle had scored a record-breaking 65 months of declining activity. And despite some desperate Ramaphoria wishful thinking, there are no persuasive signs of any recovery on the horizon. It is the longest bear phase in our history.
We all know the reasons: politics, corruption, a bloated civil service, frail economic growth, hikes in prices of "administered" goods such as electricity and water.