Standard Bank's Dual CEOs Get 43% Pay Increase as Profit Rises
- Ben Kruger, Sim Tshabalala paid a combined 61.8 million rand
- Performance reviews found chiefs met most objectives for 2015
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The combined compensation for Standard Bank Group Ltd.’s joint Chief Executive Officers Sim Tshabalala and Ben Kruger rose 43 percent after full-year profit climbed by a third.
Kruger’s total pay was 30.79 million rand ($2.1 million), including incentive awards amounting to 22 million rand, giving the CEO an increase of 61 percent from a year earlier, according to the Johannesburg-based bank’s annual report published on Monday. Tshabalala’s total pay was 30.99 million rand, including annual incentives of 22 million rand, giving him an increase of 28 percent.