Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

earningsBDLive writes that the £9m remuneration package that is on the cards for Old Mutual CEO Bruce Hemphill is part of a "unique pay structure designed for a unique set of circumstances", a group spokesman said on Thursday.  

This came as the company sought to contain a shareholder revolt.  It was reported on Thursday that some of the group’s biggest investors had registered their protest against the planned maximum payout for Hemphill because of the "unusual nature and size" of the offer.  The unique circumstances apparently relate to the plans to break up Old Mutual into four separate companies by 2018.  Completion of the separation programme would mean Hemphill’s role as overall CEO would be redundant.

  • Read this report by Ann Crotty in full at BDLive
  • See too, Allan Gray backs Old Mutual’s CEO pay plan after ‘robust’ talks, at Moneyweb
  • And also, Old Mutual defends huge CEO salary amid ‘brewing rebellion’, at Fin24

Get other news reports at the SA Labour News home page