Zuma won’t lead the CEO pay freeze proposal


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  • #5775
    Cindy Payle
    Keymaster

    Government, business and labour made a social pact to call on CEOs and executive directors in the private sector and public sector, to agree on a freeze on increases in salaries and bonuses over the next 12 months.

    The salary freeze is meant to recover investor confidence and is part of government’s response to the frustration that exists among sections of the workforce at the high income inequalities in South Africa which has lead to industrial action and social unrest.

    The pay freeze was expected to start with the President and filter down through all sectors of society.

    However, two days after this pact was made President spokesperson Mac Maharaj announced that “President Jacob Zuma would not be the first to freeze his salary, as he has asked companies to do with their CEOs, because due processes had to be followed in decision-making within the government”

    Cabinet ministers reportedly received a 5.5% increase in July, which brings President Zuma’s package to R2.6m

     

    What do you think about this proposal?

    Can government expect senior executives to freeze their salaries when the president is unwilling to take the lead?

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    #5808
    Megan Forster
    Participant

    I’m afraid that he will need to do more than just freeze his salary to recover investor confidence.  This is just another example of his poor leadership.  Greed knows no boundaries.   

    #5807

    The concept of leading by example obviously does not mean anything to our President. It is easy for him to put pressure and guilt on others while he continues with his lavish lifestyle. I am not surprised he is not practising what he preaches. That is a politician for you.   

    #5806
    Rufaz M Mavhure
    Participant

    If the Presidency cut its catering bills; travels for spouses and get down to 3 star hotels then we can make sense out of the proposals. Why does government engage too many Consultants when there are DGs with fat packs already?. Government can do more in slashing expenditures first. Good idea from a wrong office rather!!!

    #5805

    I agree & would be very surprise if anything more is said concerning the ‘freze” from any goverment official!

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