Standard Bank CEO Sim Tshabalala banked R48.5m pay in 2017

Former Standard Bank CEO Sim Tshabalala. (File photo: Gallo Images)
Former Standard Bank CEO Sim Tshabalala. (File photo: Gallo Images)

Standard Bank’s CEO Sim Tshabalala banked a R48.5m pay cheque in 2017.

This is according to the group’s annual report for 2017. His salary was 9% more than the R44.5m reported in 2016.

“In a challenging environment, Sim Tshabalala showed quiet but very influential leadership,” the report read. Tshabalala was commended for his unwavering commitment to implementing the group strategy.

“As part of the strategy, Sim has made great progress in simplifying the organisation and embedding these important value drivers into the culture of the organisation which will no doubt enhance the group’s leadership position in the coming years.”

Tshabalala was appointed as Standard Bank’s sole CEO in September 2017. He previously shared the role of joint CEO with Ben Kruger, who took home pay of R46.5m. This is 5% more than the R44.45m he took home in 2016.

Kruger was commended for working with Tshabalala in developing the group strategy. “The depth of Ben’s banking experience, his commercial pragmatism and thoughtful leadership have been instrumental in the group’s success over the past years,” the report read.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

ZAR/USD
17.42
(-0.58)
ZAR/GBP
22.89
(-0.74)
ZAR/EUR
20.69
(-0.64)
ZAR/AUD
12.61
(-1.12)
ZAR/JPY
0.17
(-0.61)
Gold
2066.30
(+1.51)
Silver
29.05
(+8.23)
Platinum
1000.00
(+3.85)
Brent Crude
45.33
(+1.67)
Palladium
2212.63
(+2.24)
All Share
57656.69
(+0.05)
Top 40
53350.88
(+0.13)
Financial 15
9888.41
(-0.41)
Industrial 25
76178.50
(+0.02)
Resource 10
60086.05
(+0.49)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 913 votes
It depends on how the funds are used.
74% - 6065 votes
No. We should have gotten the loan elsewhere.
15% - 1237 votes
Vote