Today's Labour News

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DisChemBusiness Report writes that Dis-Chem chief executive Ivan Saltzman’s total remuneration increased 3.04% to R13.23-million for the year to the end of February, from R12.84m the previous year.  

The group advised in its annual report published on Monday that his package consisted of salary and allowances of R12.88m, which was up 3.21% compared with the prior year, R72,000 in retirement and related benefits, as well as R271,000 in other benefits.  Dis-Chem said co-founder and managing director Lynette Saltzman’s package had been R10.74m – encompassing a 3.21% salary increase to R10.56m, R71,000 in retirement and related benefits and R111,000 in other benefits.  Chief financial officer Rui Morais had received R5.94m, consisting of an annual salary of R5.53m, R72,000 in retirement and related benefits as well as R339,000 as other benefits.  Dis-Chem paid a total of R55.92m to its executive directors from R34.03m in 2019, as a result of adding four prescribed officers to its executive directors’ list during the year.  Non-executive directors’ fees increased by 6.65%.  The group’s chairperson, Laurence Nestadt, earned the same as in 2019.  However, the group has proposed that his fee be increased by 10.73% to R3.17m for the 2021 financial year.  The group did not pay bonuses.

  • Read the full original of the report in the above regard by Sandile Mchunu at Business Report

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