LETTER: Private sector CEOs’ obscene pay sets bad example

South Africa News News

LETTER: Private sector CEOs’ obscene pay sets bad example
South Africa Latest News,South Africa Headlines
  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 66 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 63%

We should not be surprised when we witness the corruption of executives in state organisations

Congratulations to Allan Seccombe for his article . It is important for journalists to highlight the immorality of a system that creates such obscene inequality.

Since its inception the SA gold mining industry has been based on profit maximisation through the suppression of wages of unskilled labour. Control of the cost of black migrant labour was essential to enable the mines to make profits and attract overseas investment, mainly from London. This system of profit maximisation, unimpeded by notions of ethics and fairness, has endured, and the obscene remuneration of CEOs is a manifestation thereof.

I have great respect for the integrity of dedicated leaders in the mining industry such as Nick Holland and Chris Griffith, who have made an immense contribution to the country under difficult circumstances and deserve to paid handsomely for their services. Unfortunately, they have been operating within a system that is exploitative and immoral, and the scale of inequality reflected in their remuneration is simply shameful.

such as Eskom. When they look at the example of executives in the private sector reaping such massive rewards from what is essentially an immoral and corrupt system, it is perhaps understandable that they feel they also have a right to obscene rewards for their services — even if it may involve blatant, illegal malfeasance.Send us an e-mail with your comments. Letters of more than 300 words will be edited for length.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BDliveSA /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

LIVE BLOG: Ramaphosa says isn't insulted by Zuma's letterLIVE BLOG: Ramaphosa says isn't insulted by Zuma's letterDP David Mabuza responding to question on where he's been: 'I took ill for a period of a month, merely because of my health condition... this is my 10th day at work, my condition is improving.' He refutes [obvious] fake news of his death. ANCNEC
Read more »

LETTER: A lot is riding on Hermione CronjeThe head of the NPA’s investigating directorate expects the first high-profile arrests in September
Read more »

LETTER: Covid-19 crimes are crimes against the state and societyThese criminals must be punished severely
Read more »

LETTER: What is the value of EL Bateman?After 69 years on the JSE, the company is set to delist from the local bourse but without an audit
Read more »

LETTER: Flawed thinking around sustainable investingUS financial editor Robert Armstrong is wrong to contend that ESG investing rests on weak conceptual foundations
Read more »

Mafikizolo’s Theo on love and wedding plans: We are just ordinary people'You can't let your entire private life be out in public, some things have to be private'
Read more »



Render Time: 2025-02-06 23:03:04