JSE sharks: Moyo gets mauled, Staude ducks and dives, Ottapathu is lunch

Life as the CEO of a publicly listed company must be good, if you look at the salaries commanded by JSE bosses. The average package, according to PwC, is about R25m, and much more for the CEOs of the biggest companies. Old Mutual Chief Executive Peter Moyo, who was fired this week, earned a total of R35.5m in 2018, reports Fin24. But it's also tough at the top, as Moyo's axing reminds us. Moyo was sacked after his suspension was instituted by Old Mutual chairman Trevor Manuel, a former finance minister who collects about R7m a year in board fees from Old Mutual. Other South African CEOs who are also struggling to swim away from the sharks circling in the JSE pool are Tongaat Hulett CEO Peter Staude, who has presided over accounting irregularities, and Choppies CEO Ramachandran Ottapathu, also fingered for dodgy accounting. Moyo, Staude and Ottapathu are the stars of the show in the Financial Times Lex column this week. – Jackie Cameron

By Thulasizwe Sithole

South Africa became the first country to protect the Great White shark back in 1991, says the Financial Times Lex columnist.

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