Sasol explains R41m pay difference between its former joint chief executives
Figures contained in Sasol's annual results have revealed a Rmillion pay difference between the salary packages of Bongani Nqwababa and Stephen Russell Cornell who headed the petrochemical giant from July, to October as Joint-President and Chief Executive Officers.
Both officials held the same position and shared a similar amount of responsibilities, however Nqwababa's total remuneration package stood at Rmillion for the year, while Cornell pocketed Rmillion.
The two executives were forced to step down last October after results of an independent review showed that a multi-billion rand project in the US was experiencing major cost overruns. Nqwababa left the company in April while Cornell exited in June.
Responding to SowetanLIVE's questions, Sasol said the pay gap was largely due to Cornell being paid as an expatriate and this never meant he did more work than Nqwababa.
"A key reason for the difference in the former joint-CEOs’ earnings lies in their employment contracts. As a South African, Bongani was on a South African contract and therefore paid in Rands. As an American, Stephen was an exp
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