Naspers CEO Bob van Dijk in R1.5-billion bonanza - TechCentral

Naspers CEO Bob van Dijk in R1.5-billion bonanza

Naspers CEO Bob van Dijk

Bob van Dijk is rolling in the riches. The CEO of Naspers received almost R1.5-billion in salary, bonuses and vested share options and appreciation rights, during the 2018 financial year, which ended on 31 March, the group’s latest annual report shows.

Van Dijk earned US$2.4-million (R32.2-million) in salary and bonuses in 2018, though if long-term share incentives awarded during the year are included, the figure rises sharply to $12-million (R162.1-million).

Van Dijk’s base salary in 2018 was $1.3-million, up from $1.1-million in the 2017 financial year, according to the group’s 2018 annual report, which was published on Friday.

He received $1.1-million in bonuses, up from $973 000 in the prior year. He was awarded long-term share incentives totalling $9.6-million, down from $10.4-million previously.

That’s by no means where the story ends, though.

The annual report shows a staggering R830.4-million worth of share options — a total of 284 031 shares — also vested to him during the financial year.

And various share appreciation rights worth a total of $46.2-million (R621.8-million) also vested, bringing the total (excluding the long-term share incentives awarded during the year — these will only vest later) to just shy of R1.5-billion (assuming an exchange rate of R13.45/$).

Chief financial officer Basil Sgourdos, meanwhile, received a salary of $862 000, up from $828 000 before, while his bonus rose by $443 000 to $605 000, taking his payout to $1.5-million. He also received almost $2-million in long-term awards.

Director Mark Sorour — who stepped down as an executive at the end of the financial year — received a salary and bonus of $2.6-million.

The group’s nonexecutive directors were also paid well in 2018. Chairman — and former CEO — Koos Bekker received a total $549 000 for his services. The highest-paid nonexecutive director was Nolo Letele, who took home $689 000.

Total fees paid to nonexecutive directors came to $5-million, up $4.4-million in the 2017 financial year.  — (c) 2018 NewsCentral Media

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