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Nedbank's CEO just added R53 million to his personal wealth | IOL Personal Finance

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Nedbank's CEO just added R53 million to his personal wealth persfinza

Nedbank has released their annual report for 2018 which revealed how much their executives earned including Nedbank Chief Executive Mike Brown according to BusinessTech.

The R53 million package includes a guaranteed of R8.5 million, a cash bonus of the same amount, a short term incentive payout of R16 million and a long-term incentive of R16.5 million at "face value'. Brian Kennedy, a managing executive, took home R43.5 million while chief operating officer Mfundo Mkhulu had a total package of R32.9 million and Raisible Morathi took home R30 million. Based on Nedbank's staff costs and employee figures , the average employee at Nedbank earns R428400 annually which translates to R1170 per day.

 

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