FirstRand Head Is South Africa’s Best-Paid Bank CEO
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Sizwe Nxasana became South Africa’s best-paid bank chief executive officer after FirstRand Ltd. boosted his remuneration to 45 million rand ($6.4 million).
Nxasana, 53, was paid a salary of 5.1 million rand, a 5.82 million-rand performance bonus and deferred shares valued at 5.18 million rand in the year through June, the Johannesburg- based bank said in its annual report. Nxasana also got 1.24 million share awards, currently valued at 27.5 million rand, which pay out in September 2012 if he meets performance targets.