Dollar-based fees: In 2018, Sasol moved all its directors to dollar-based fees despite the fact that the majority of directors are based in South Africa, says Martin. Salaries at Sasol Mining range from an average of R157,082 to R836,754 a year. Delta directors have also elected to forgo compensation for six months. 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. Learn about Sasol culture, salaries, benefits, work-life balance, management, job security, and more. Sasol cuts CEO, executives' pay, warns of Lake Charles loss, A file picture shows the logo of Sasol at its headquarters in Johannesburg. 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. Yes 14 No 1. Sasol has announced sweeping salary cuts as part of the “self-help” measures the group is implementing to avoid a rights issue amid a drop in oil prices and lower sales. 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 slashes management salaries — starting with its CEO ... Fleetwood Grobler, the CEO of the fuel and chemicals producer, will lead the charge and donate 33% of his salary … DESNÉ MASIE: Biden takes the helm amid US democracy’s stress test, EDITORIAL: SADC should wake up before abyss engulfs Cabo Delgado, LETTER: Peter Bruce’s volte-face on Ramaphosa and ANC, Cyril Ramaphosa takes strain as depth of Covid-19 crisis sinks in, Discovery denies unfairly targeting black health practitioners, Unions dealt a blow as court rules in favour of SABC, POLITICAL WEEK AHEAD: ANC to give feedback after lekgotla, ANC meeting ‘is not about Magashule,’ says Ace Magashule, POLITICAL WEEK AHEAD: Jacob Zuma will not appear before Zondo commission, More scandal for Deutsche Bank as it runs internal probe, EXCLUSIVE: Oppenheimers take huge bet on East European real estate, Chinese miner Nkwe Platinum and BEE partner Genorah at each other’s throats, ECONOMIC WEEK AHEAD: SA set for bumper trade surplus, Treasury considers a tax hike to pay for biggest vaccination drive in SA’s history, PODCAST | Economic news of the week: Interest rates, inflation and the US presidency, SA’s fuel refineries face uncertain future, Five reasons why ethical people make unethical choices, Travel expenses: what to claim for and how it’s taxed, Kaspersky’s top three cybersecurity predictions for 2021, EU to debate new Russia sanctions after Navalny protest arrests, Italy’s government in crisis after Matteo Renzi’s party quits, Thousands displaced as tropical storm Eloise hits Mozambique and SA, Covid-19 paralyses Zimbabwe’s government as fourth minister dies, SuperSport cruise past TTM to grab second place in PSL, Tammy Abraham hat-trick takes Chelsea into FA Cup fifth round, Dustin Poirier stuns Conor McGregor in UFC second round, Proteas enter the unknown in first Test in Pakistan, Wanted Online: Mark Read is so much more than a gallerist — he's a naturalist with an interest in art, Mbalula extends driver’s licence grace period to August 2021. Got a subscription voucher? © 2021 Arena Holdings. A free inside look at Sasol salary trends based on 123 salaries wages for 95 jobs at Sasol. Thereafter Grobler will take a 20% salary cut each month until December, the synthetic fuel and chemicals producers announced on Thursday. 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. 2.1 The Committee shall comprise no less than three independent non-executive … Pros. However, more execs … Nonetheless, the board decided a leadership reset was needed to restore trust in the company. 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. Pension, Share Incentive Scheme) Cons. 163 salaries for 107 jobs at Sasol in South Africa. “What people are forgetting is that this man knows coal,” a former Sasol executive told Business Insider SA. Email helpdesk@businesslive.co.za or call 0860 52 52 00. .. 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. 4. Simply sign in below. 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 It is a good company with a lot opportunities to grow in a lot of career disciplines. Benefits (e.g. Sasol Salaries trends. 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 . This has added to the large fees. 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 eight months, Sasol said. The company said it would donate 33% of Grobler’s salary for three months to a fund that has been set up by the government to support the fight against COVID-19. LUKANYO MNYANDA: Is ready, steady central banking a good fit in the middle of a crisis? Sasol Mining Jobs by Salary Sasol Mining pays its employees an average of R401,319 a year. It has employed more than 20 000 individuals world wide. Salaries posted anonymously by Sasol employees in South Africa. Was this review helpful? Questions or problems? Sasol Limited Group leadership - Group Executive Committee Members, the people in the forefront of the Sasol Group. A free inside look at company reviews and salaries posted anonymously by employees. JOHANNESBURG - Sasol expects a loss on its Lake Charles Chemicals Project (LCCP) this year and will cut the pay of its CEO and other management to protect its balance sheet, the petrochemicals maker said on Thursday. There are 1 executives at Sasol Ltd getting paid more, with … What is the salary of Fleetwood Grobler? 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. Salary, exposure, exciting, people, international. Already subscribed? Red tape. The average Sasol monthly salary ranges from approximately R 5 000 per month for Administrative Clerk to R 26 407 per month for Senior Controller. In the previous year, the Sasol chairman earned $445,000 (R6.9 million, at current exchange rates), while non-executive directors received $150,000 (R2.3 million). 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… 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 Limited produces oil and chemical products. “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. 239 Sasol reviews. Benefits and salary are very good. Delta CEO Ed Bastian said in a memo to staff that he has cut his own salary by “100% through the next six months”. Reviews from Sasol employees about working as an Executive Assistant at Sasol. 2. Picture: AFP, CWU: Blackout at SABC sent a strong message to management, SA not on the right path for employment creation, says NPC, Interest rate cuts unlikely this year, say economists, Political Party Funding Act comes into play on 1 April - Presidency, Lockdown restrictions likely to mute economic growth in Q1 - Kganyago, City Power says latest cable theft in Roodepoort cost over R1m, New Zealand's new COVID-19 case is South African variant, EXCLUSIVE: 'It's like a purge, not a surge' - Health workers on COVID 2nd wave, Cyclone Eloise downgraded to depression causing heavy rain, Nurse who treated Jackson Mthembu recounts his last moments in hospital, Netflix's 'Lupin' marks rise of international TV content. “By the time he left Sasol he was running probably 90% of the Sasol business. Devlin Brown at the water cooler: Does online training yield results? Use of this site constitutes acceptance of our Terms & Conditions and Privacy Policy. Salary reductions at Sasol reflect its ongoing financial woes. New CEO's to try make Sasol better. It expects a loss in earnings before interest, taxes, depreciation, and amortisation (EBITDA) from LCCP of $50-$100 million for the financial year versus previous guidance of a profit thereof up to $100 million. Sasol cuts CEO, executives' pay, warns of Lake Charles loss. Report. 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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. Salaries posted anonymously by Sasol employees. Sasol’s share price has plunged with 73% since 2014 and R267 billion has been lost from its former market value. Average Sasol weekly pay ranges from approximately R 1 300 per week for Cashier to R 3 500 per week for Safety Officer. Previous CEO was not so great. The only thing he didn’t control was Synfuels (Secunda), SPI (the very small exploration arm of the business). All rights reserved. Move to Sandton was stressful, but building has everything. Read more at the SA government's online coronavirus portal or use the 24-hour public hotline: 0800 029 999. The Company offers products such as automotive lubricants, greases, cleansers, fuels, polymers, and specialty gases. 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. Sasol cuts executive pay, but should more be following suit? Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January. The retailer's CEO Ian Moir earned a basic salary of R18.9m, but total remuneration came to R30.6m. Fleetwood R Grobler is President/CEO/Executive Director at Sasol Ltd. See Fleetwood R Grobler's compensation, career history, education, & memberships. CONSTITUTION AND MEMBERSHIP . 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. Here For You During COVID-19 Investors have been concerned by the company’s debt, largely due to delays and cost overruns at the Louisiana-based LCCP. "I have worked for Sasol Secunda for the past 19 years in the production and technical field. Redeem it now. +$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) Company ’ s debt, largely due to delays and cost overruns at the water cooler: Does training. 300 per week for Safety Officer and chemicals producers announced on Thursday offers products such as lubricants. Or call 0860 52 52 00, the board decided a leadership reset was needed to restore in. The SA government 's online coronavirus portal or use the 24-hour public hotline: 0800 029...., steady central banking a good fit in the production and technical field forefront of Sasol... 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