Ann Crotty
2 minute read
22 Sep 2020
8:21 am

Sanlam’s chief executive to get R161m

Ann Crotty

Some estimate over R100. If so, it would mean Hanratty is in line for a R300 million award.

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Anton Botha, Patrice Motsepe, Karabo Nondumo, Sipho Nkosi and Shirley Zinn: these are the members of the Sanlam remuneration committee that decided to award recently appointed chief executive Paul Hanratty R161 million worth of Sanlam shares. In a Sens statement, the insurance group said the three million shares will vest in five years, assuming certain unspecified performance targets are met. At that stage the shares will likely be worth considerably more than R161 million, which is based on the R56 at which they traded last week. Given the share price is currently at a several-year low, it is almost inevitable...