10 Highest Paid CEOs In South Africa

10 Highest Paid CEOs In South Africa

1 of 11

Chief Executive Officers of private companies are often lauded for the way in which they deal with the pressure of ensuring success at huge corporations and conglomerates, but they are also rewarded for their efforts with exorbitant pay packages that completely overshadow the salaries of those who work for them throughout the company.

Research done by P-E Corporate Services has established some of the highest paid CEOs in South Africa, revealing that the pay differential between the guaranteed pay of the CEO of a very large company (turnover of more than R15 billion and more than 25,000 employees) and workers on basic skill level packages is 60:1. Unbelievably, this means that the average CEO or president of a very large company earns 60 times as much as their average employee.

But the real picture is even more incredible, as including the short-term and long-term incentives reveal that the CEOs of the top 20 percent of JSE-listed companies earned 221 times more than basic skill level workers.

With this in mind, we take a closer look at the 10 highest paid CEOs working for companies in South Africa.

Sources: IOL, BusinessTech, P-E Corporate Services, BDLive, AngloAmerican, MoneyWeb.

Johann Rupert - CEO of Richemont
Johann Rupert – CEO of Richemont – forbes.com

10) Johann Rupert – Richemont

Base Salary: $3.52 million

Total Salary: $3.52 million

The chairman of the Swiss-based luxury-goods company Richemont is the 10th highest paid CEO in the country for 2015, commanding a massive basic salary, though he does not receive any bonuses from the company, unlike the others on this list.

Shoprite Mozambique, noticias.mmo.co.mz
Shoprite Mozambique, noticias.mmo.co.mz

9) Whitey Basson – Shoprite

Base Salary: $3.51 million

Total Salary: $3.57 million

Shoprite continues to thrive in South Africa, and their highly-respected CEO Whitey Basson is well compensated for his leadership of the supermarket brand, qualifying for this list at number nine in the country.


8) David Constable – Sasol

Base Salary: $1.26 million

Total Salary: $3.71 million

Canadian David Constable is the president and CEO of Sasol, but will be leaving his post after its expiry next year. Upon the announcement that he would no longer be CEO after June next year, the company’s shares fell 2.4%. The eight highest earner on this list will remain at the company as a consultant.

Johan Van der Merwe - Sanlam Investments
Johan Van der Merwe – Sanlam Investments – financialmail.co.za

7) Johan van der Merwe – Sanlam Investments

Base Salary: $307,000

Total Salary: $4.45 million

Johan van der Merwe was appointed Chief Executive Officer of Sanlam Investment Management in July 2002, and has remained in the high pressure position ever since. At 49, he commands the lowest base salary on this list at $307,000 but he more than makes up for it in bonuses and other compensation.

Ian Hawsworth - Capco CEO
Ian Hawsworth – Capco CEO – financialmail.co.za

6) Ian Hawksworth – Capco

Base Salary: $793,000

Total Salary: $4.82 million

With over 25 years of experience in large-scale global real estate development, asset and corporate management, having been a senior director of both Hong Kong Land and Liberty International, Ian Hawksworth is the CEO of Capco, landing on this list at sixth position.

Nicandro Durante - CEO of British American Tobacco
Nicandro Durante – CEO of British American Tobacco – adslive.com

5) Nicandro Durante – BAT

Base Salary: $1.75 million

Total Salary: $5.55 million

Appointed in 2011, Brazilian-born Nicandro Duarte is the CEO of British American Tobacco, which is the world’s second largest tobacco company in terms of sales. The executive’s base salary is below the $2 million mark, but with bonuses and other compensation his total pay package for the year rises above $5.5 million.

Anglo American is in talks to sell
Anglo American Platinum mine, Rustenburg. Photo: Stephane de Sakutin/Getty Images

4) Mark Cutifani – Anglo American

Base Salary: $1.89 million

Total Salary: $5.71 million

Mark Cutifani began his time as the Chief Executive of Anglo American in April 2013, and has been in the hot seat ever since, guiding the massive company through difficult times following the commodities collapse. Cutifani was previously the CEO of AngloGold Ashanti Limited before his current role, and is a respected executive in business circles.


3) Julian Roberts – Old Mutual

Base Salary: $1.4 million

Total Salary: $6.47 million

Julian Roberts became CEO of the company in 2008 at the start of the global financial crisis, and has done a sterling job in leading Old Mutual forward. He announced that he would be stepping down as CEO at the end of 2015, but has qualified for the third spot on this list thanks to a total salary of almost $6.5 million.

Andrew Mackenzie - BHP Billiton CEO
Andrew Mackenzie – BHP Billiton CEO – telegraph.co.uk

2) Andrew Mackenzie – BHP Billiton

Base Salary: $1.72 million

Total Salary: $8.1 million

The supremely experienced Andrew Mackenzie is the Scottish-born CEO of the world’s biggest mining company, having succeeded Marius Kloppers in mid 2013. He has a Bachelor of Science degree in Geology and a PhD in Organic Chemistry, which are rare qualifications for a CEO on any top earners list, let alone the second highest earner.

Alan Clark - SABMiller CEO
Alan Clark – SABMiller CEO – thetimes.co.uk

1) Alan Clark – SAB Miller

Base Salary: $1.74 million

Total Salary: $10.85 million

The top spot on this list is reserved for none other than SABMiller CEO Alan Clark. The South African-born executive has been the head of the second largest brewer since April 2013, and is currently involved in assisting Anheuser-Busch InBev’s plans to acquire the company for $104 billion. His total salary of $10.85 million is sufficient to see him place at number one on this list.