Top read this week | Santam CEO sees total remuneration halve in 2018 financial year
Despite short-term insurer Santam reporting a much stronger performance than the previous year, CEO Lize Lambrechts saw her total remuneration halve in financial 2018 as a result of the nonpayment of cash bonuses.
In 2017, Lambrechts’ remuneration package was boosted by the payment of a R19m made in terms of the group’s Outperformance Plan , one of Santam’s five long-term incentive plans. The plan is designed to reward “superior performance over a three-to five-year measurement period”, according to the remuneration report.
Botha said the R19m was paid for performances during the previous three years but there had been little information provided in the remuneration reports of those years.
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Santam CEO sees total remuneration halve in 2018 financial yearLize Lambrecht’s total remuneration of R16.6m for the year included a guaranteed package of R5.5m, a bonus of R6.9m and long-term incentives of R4.2m
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