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Naspers CEO earns almost R24m

Paula Gilbert
By Paula Gilbert, ITWeb telecoms editor.
Johannesburg, 25 Jul 2016
Naspers increased CEO Bob van Dijk's total earnings by 5%, including a bonus of R8.1 million.
Naspers increased CEO Bob van Dijk's total earnings by 5%, including a bonus of R8.1 million.

Naspers CEO Bob van Dijk took home $1.67 million (R23.9 million) in the past financial year, according to the company's integrated annual report for the year ended 31 March, released on Friday.

Van Dijk's earnings included over $1 million (R14.7 million) for his salary, $568 000 (R8.1 million) for "annual cash bonuses and performance-related payments" and $77 000 (R1.1 million) in pension contributions. His total earnings were 5% higher than his total of $1.59 million (R22.8 million) a year earlier.

The group's chief investment officer, Mark Sorour, earned a total of $2.08 million (R29.7 million) compared with $2.09 million (R29.9 million) a year earlier. Group CFO Vasili Sgourdos earned $1.23 million (R17.6 million) compared to $1.15 million (R16.4 million) the year before.

Chairman Koos Bekker, who stepped down as CEO in March 2014, earned $500 000 (R7.15 million) in fees for the year.

Naspers delivered a solid performance in the last financial year against what it calls "a volatile macro-economic backdrop". Core headline earnings, which it considers a reliable indicator of sustainable earnings, grew 21% to US$1.2 billion (R17 billion) for the year.

Naspers is Africa's biggest company by market value, and its share price this morning was worth R2245.16 per share. The Internet and media giant's market capitalisation has grown from R2.3 billion when it listed in 1994 to R981.3 billion today, peaking at a record high of over R1 trillion on 31 May.

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