ANN CROTTY: Neal Froneman’s R300m under fire
Company boards are going to pay execs whatever they like — the long-winded remuneration reports are just a transparent attempt to blind us with science
Perhaps it is time to be shot of remuneration committees and remuneration consultants, which drag us through the pretence that the truckloads of money handed to the executives of listed companies every year is the outcome of a scrupulous scientific exercise.
So finely tuned is this exercise, which invariably involves two or three external “independent” consulting firms, that only the most truculent of socialists would challenge its outcome. To do so is nothing less than to challenge the entire edifice of the free market system, and to ignore the fact that the top executives fully determine the value of a company...
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