Old Mutual reconsiders CEO Hemphill’s ‘excessive’ R203m proposed payout
Old Mutual will consider a revised directors’ remuneration policy, amid concerns that CEO Bruce Hemphill’s proposed payout R203m is excessive.
Old Mutual will consider a revised directors’ remuneration policy, amid concerns that CEO Bruce Hemphill’s proposed payout R203m is excessive.
The FSB, National Treasury and the Reserve Bank will work with Old Mutual and Nedbank to ensure that any potential execution risks are mitigated.
Finance Minister Pravin Gordhan met up with around 60 business CEOs last week, in an attempt to galvanise the crew and find solutions to the country’s problems.
Trevor Manuel has been appointed as a non-executive Director and member of the Board Risk Committee of the Old Mutual Board with effect from 1 January 2016.