Pros. “These measures are necessary to help protect the company’s balance sheet and liquidity until at least the end of financial year 2021,” Sasol said, citing the impact of the coronavirus outbreak. .. A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily. Pension, Share Incentive Scheme) Cons. According to Sasol’s annual report for the year until the end of June, Cornell’s remuneration included R68,65 million (85% more than the year before) and included a R20,8 million salary. Salaries at Sasol Mining range from an average of R157,082 to R836,754 a year. Sasol Limited produces oil and chemical products. Sasol investors suggest co-CEO Cornell should go Cornell has been more involved in the Lake Charles project, where costs are soaring, and is paid more than his co-CEO… 4. Sasol cuts CEO, executives' pay, warns of Lake Charles loss. The retailer's CEO Ian Moir earned a basic salary of R18.9m, but total remuneration came to R30.6m. Sasol today announced President and CEO David Constable has decided not to extend his contract of employment with the Company, which expires on 31 May 2016.. With the board’s support, Mr Constable initiated an extensive business performance enhancement programme, and drove the Company’s growth ambitions in Southern Africa and North America. Sasol didn’t find misconduct or incompetence by either of the outgoing chief executive officers, who will be replaced on Nov. 1 by Fleetwood Grobler, previously executive vice president for chemicals. Sasol Salaries trends. Fleetwood Grobler, the CEO of the fuel and chemicals producer, will lead the charge and donate 33% of his salary to the government’s Covid-19 response initiative, the Solidarity Fund, for three months. Devlin Brown at the water cooler: Does online training yield results? 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As the President, Chief Executive Officer, and Executive Director of Sasol Ltd, the total compensation of Fleetwood Grobler at Sasol Ltd is $12,583,000. Sasol cuts CEO, executives' pay, warns of Lake Charles loss, A file picture shows the logo of Sasol at its headquarters in Johannesburg. Sasol slashes management salaries — starting with its CEO, The synthetic fuel and chemicals group is scrambling to cut costs as oil prices and fuel sales plummet, JSE surges above 65,000 to record, led by Naspers and Woolworths, JSE faces mostly higher Asian markets on Monday as Covid-19 remains in focus, MARKET WRAP: JSE and rand fall as global market rally stumbles. © 2021 Arena Holdings. The world’s top manufacturer of motor fuel from coal, implemented measures in March to improve its liquidity in a low oil price environment including finding a partner for LCCP, asset sales, and a potential $2 billion rights issue. Thereafter Grobler will take a 20% salary cut each month until December, the synthetic fuel and chemicals producers announced on Thursday. 239 Sasol reviews. However, more execs … Salaries posted anonymously by Sasol employees. CEO Fleetwood Grobler will donate 33% of his salary for three months from May and take a 20% pay cut for five months to December, directors’ fees will be reduced by up to 40%, and executive committee senior leadership and junior management will take salary cuts for 8 months, Sasol said. Fleetwood R Grobler is President/CEO/Executive Director at Sasol Ltd. See Fleetwood R Grobler's compensation, career history, education, & memberships. Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January. CEO Fleetwood Grobler will donate 33% of his salary for three months from May and take a 20% pay cut for five months to December, directors’ fees will be reduced by up to 40%, and executive committee senior leadership and junior management will take salary cuts for 8 months, Sasol said. What is the salary of Fleetwood Grobler? Salary reductions at Sasol reflect its ongoing financial woes. Move to Sandton was stressful, but building has everything. The only thing he didn’t control was Synfuels (Secunda), SPI (the very small exploration arm of the business). A free inside look at company reviews and salaries posted anonymously by employees. The ballooning cost of Sasol Ltd.'s $12.9 billion Lake Charles Chemicals Project prompted the board of directors to negotiate a separation agreement for its co-CEOs this week and for several Investors have been concerned by the company’s debt, largely due to delays and cost overruns at the Louisiana-based LCCP. 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The company also cut its core earnings expectations from the Lake Charles Chemicals Project (LCCP) following a drop in oil and chemicals prices and lower global demand due to the spread of the coronavirus. +$41K (45%) more than average Sasol salary ($70K) $106K Principal Project Manager Average Salary at Sasol (1 salaries)-$2K (1%) less than national average Principal Project Manager salary ($108K) +$36K (40%) more than average Sasol salary ($70K) the Sasol Limited Board of Directors (the Board) as a committee of the Board to attend to Sasol Limited’s (the Company) activities in respect of the matters described below . Delta CEO Ed Bastian said in a memo to staff that he has cut his own salary by “100% through the next six months”. Sasol Limited Group leadership - Group Executive Committee Members, the people in the forefront of the Sasol Group. All rights reserved. LUKANYO MNYANDA: Is ready, steady central banking a good fit in the middle of a crisis? Already subscribed? 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