Q&A’s for the General Sector, 2010
What is the total monetary value of voluntary and forced severance packages that were paid to out-going chief executive officers (CEO) and top management of all parastatals reporting to her department from 1 January 2000 up to the latest specified date fo
11/02/2010
DEPARTMENT: PUBLIC ENTERPRISES
REPUBLIC OF SOUTH AFRICA
NATIONAL ASSEMBLY
QUESTION FOR WRITTEN REPLY
QUESTION NO.: 150
DATE OF PUBLICATION: 11 February 2009
Mr P van Dalen (DA) to ask the Minister of Public Enterprises:
(1)(a) What is the total monetary value of voluntary and forced severance packages that were paid to out-going chief executive officers (CEO) and top management of all parastatals reporting to her department from 1 January 2000 up to the latest specified date for which information is available and (b) what is the annual total cost to company for each current CEO and specified member of the top management of each parastatal;
(2) whether CEOs will be appointed to the parastatals that currently have acting CEOs; if not, why not; if so, (a) when and (b) what will each cost to company remuneration package (i) be and (ii) consist of? NW159E
REPLY
The total monetary value of voluntary and involuntary severance packages that were paid to previous chief executive officers (CEOs) and senior management of the State Owned Enterprises, from 2000 to date.
Alexkor
(1)(a-b) The table below indicates voluntary and involuntary monetary value paid out to the CEOs and senior management of Alexkor since 2000.
|
Item
|
Amount
|
|
Severance packages
|
R 1 365 398.01
|
|
Annual remuneration paid out to the CEO and Senior Management
|
R 2 339 950.03
|
(2)(a-b)(i-ii) Not applicable.
Broadband Infraco
The table below indicates voluntary and involuntary monetary value paid out to the CEOs and senior management of Broadband Infraco since 2000.
|
Item
|
Amount
|
|
Severance packages
|
R 0.00
|
|
Annual remuneration paid to the CEO and Senior Management
|
R 7 451 594.96
|
(2)(a-b)(i-ii) Not applicable.
DENEL
The table below indicates voluntary and involuntary monetary value paid out to the CEOs and senior management of DENEL since 2000.
|
Item
|
Amount
|
|
Severance packages
|
R 19 076 000.00
|
|
Annual remuneration paid to the CEO and Senior Management
|
R 12 360 421.00
|
(2)(a-b)(i-ii) Not applicable.
Eskom
The table below indicates voluntary and involuntary monetary value paid out to the CEOs and senior management of Eskom since 2000.
|
Item
|
Amount
|
|
Severance packages
|
R 0.00 (No severance packages were paid to any CEO and Senior Management since 2000 as they either retired or resigned.
|
|
Annual remuneration paid to the CEO and Senior Management
|
R 9 124 000.00 – for Senior Management only.
(Remuneration of Eskom Acting CEO will be made available once audited)
|
(2) Yes, the recruitment process is under way.
(2a) The appointment target date was communicated as 90 days from the resignation of the former Chief Executive.
(2b)(i-ii) The cost to company remuneration package will only be calculated closer to the appointment date (as soon as the new incumbent has been selected) and will consist of the following three components:
· Total guaranteed amount.
· Short term annual bonus.
· Long Term Incentive Scheme for retention purposes.
PBMR
The table below indicates voluntary and involuntary monetary value paid out to the CEOs and senior management of PBMR since 2000.
|
Item
|
Amount
|
|
Severance packages
|
R 0.00
|
|
Annual remuneration paid to the CEO and Senior Management
|
R 16 625 254.32
|
(2)(a-b)(i-ii) Not applicable.
SAA
The table below indicates voluntary and involuntary monetary value paid out to the CEOs and senior management of SAA since 2000.
|
Item
|
Amount
|
|
Severance packages
|
R 101 661 216.70
|
|
Annual remuneration paid to the CEO and Senior Management
|
R 11 119 210.00
|
(2)(a) Yes, the new CEO was appointed on 24 February 2010. She will assume her duties on 1 April 2010.
(2)(b)(i- ii) Negotiations are still in process.
SAFCOL
The table below indicates voluntary and involuntary monetary value paid out to the CEOs and senior management of SAFCOL since 2000.
|
Item
|
Amount
|
|
Severance packages
|
R 23 255 604.00
|
|
Annual remuneration paid to the CEO and Senior Management
|
R 15 285 761.00
|
(2)(a-b)(i-ii) Not applicable.
SAX
The table below indicates voluntary and involuntary monetary value paid out to the CEOs and senior management of SAX since 2000.
|
Item
|
Amount
|
|
Severance packages
|
R 0.00
|
|
Annual remuneration paid to the CEO and Senior Management
|
R 6 572 273.00
|
(2)(a) The current CEO of SAX has been appointed CEO of SAA as from 1 April 2010.
(2)(b)(i- ii) Processes have been put in place to ensure that the position will be filled as soon as possible. The remuneration package will be negotiated with the successful candidate.
Transnet
The table below indicates voluntary and involuntary monetary value paid out to the CEOs and senior management of Transnet since 2000.
|
Item
|
Amount
|
|
Severance packages
|
R 12 900 000.00
|
|
Annual remuneration paid to the CEO and Senior Management
|
R 37 713 000.00
|
(2)(a) Yes, a CEO will be appointed in due course.
(2)(b)(i) The Group Chief Executive will be remunerated on a Total Cost to Company basis which will be determined when an offer is made to a suitable candidate. Factors impacting on the remuneration include the following:
· Current remuneration of the successful candidate;
· Internal remuneration parity; and
· External remuneration parity.
(2)(b)(ii) Total Cost to Company includes all the elements of remuneration. The annual package constitutes the total annual guaranteed pay of the successful candidate. It includes remuneration elements such as:
· Annual pensionable earnings;
· Housing subsidy;
· Travel allowance (if applicable); and
· Employer contributions to pension fund, unemployment insurance fund and medical aid.
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