FirstRand CEO’s Pay Rises as Performance Awards Increase
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Sizwe Nxasana, chief executive officer of South Africa’s FirstRand Ltd., received a 13 percent pay increase in fiscal 2014, boosted by a surge in deferred share awards linked to his performance.
Nxasana was paid a total of 29.5 million rand ($2.67 million) for the 12 months ended June, including 11 million rand in a performance-based incentive plan vesting in two years, according to an annual report published on FirstRand’s website today. Nxasana, 57, earned 26 million rand last year, with a performance-based incentive award worth 6.64 million rand.