"Corporate Capture", by Ann Crotty (Boardroom Tails, March 28-April 3), highlights the undeserved earnings of the many executives whose efforts have produced balance sheets splashed in red. Yet that is nothing compared with the morally criminal income of some executives in our government agencies, as reported in a weekly tabloid.
Apparently Samson Moraba, CEO of the National Housing Finance Corp, receives an annual pay cheque of almost R9m; disgraced former SA Revenue Service commissioner Tom Moyane earned R4.3m; and 22 other executives brought the total to R100m — possibly excluding performance bonuses. It’s no wonder SA is said to be the most unequal society on earth.
The qualifications these executives possess were not listed — but, in any event, what should have been published was the level of innovation and the cost-saving plans they introduced to their organisations to justify these exorbitant salaries.
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