Sasol Integrated Report 2023 - Book - Page 71
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
CREATING VALUE
PERFORMANCE
GOVERNANCE AND REWARDS
ADMINISTRATION
REMUNERATION REPORT // REMUNERATION AT A GLANCE
Our intent is to ensure that remuneration
is aligned with our Purpose as well as
People, Planet and Profit outcomes.
REMUNERATION AT A GLANCE //
Our Remuneration Policy
Our Remuneration Policy (the policy) is a crucial enabler of Sasol’s strategy.
A sustainable, high-performance and value-driven culture remains a key
objective which underscores the policy. The policy’s design strives to provide
competitive, market-aligned rewards while balancing the need for cost
containment, risk management and value creation for stakeholders.
In FY23 we made some changes which related to:
• updates to the long-term incentive (LTI) plan, which were approved
by shareholders at the Annual General Meeting (AGM) in December 2022;
• the introduction of post-cessation shareholding requirements for Executive
Directors and Prescribed Officers;
• revision of targets applicable to incentive awards to align with key priorities;
• aligning the short-term incentive (STI) formulae for the President and CEO
and the CFO; and
• extending the notice period for newly appointed employees in the Group
Leadership and Leadership role categories from one month to three months,
aligned to the legislative framework of the jurisdictions within which
we operate.
Our remuneration philosophy
Our remuneration philosophy is to use internally equitable and
externally competitive, affordable salary, benefits and incentive
structures to attract, retain and motivate qualified, skilled
and engaged employees to work towards achieving the Group’s
strategic objectives in a values-driven manner and to create
stakeholder value responsibly and sustainably.
SASOL INTEGRATED REPORT 2023
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