Sasol Integrated Report 2024 - Book - Page 137
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
BUSINESSES
ESG
DATA AND ASSURANCE / ADMINISTRATION
REMUNERATION REPORT
PART I: REMUNERATION AT A GLANCE continued
Shareholder feedback
The revised operating model
We are grateful for the constructive feedback from our shareholders on our Remuneration Policy
and Remuneration Implementation Report, and their ongoing support.
In an effort to rediscover our ‘One Sasol’ identity, we have refined our operating model. The portfolios
of the ‘business of today and business of tomorrow’, but to promote greater focus and accountability,
as well as improved collaboration within the Group Executive Committee (GEC).
Non-binding advisory votes in support of the Remuneration Policy and Remuneration
Implementation Report
The Remuneration Committee “The Committee” has considered the remuneration implications of all
role changes and appointments.
GEC Remuneration
REMUNERATION POLICY
IMPLEMENTATION REPORT
84,67%
89,42%
2022
92,92%
94,89%
2021
86,90%
86,11%
2023
The Remuneration Committee has considered remuneration adjustments where justified in terms of
the revised portfolios and/or the appointments. Annual salary increases aligned with inflation were made
effective 1 October 2023; promotional and market related adjustments were approved as appropriate.
Remuneration mix
For newly appointed GEC members, on appointment LTI awards were made subject to Sasol being
in an open period at the time. The target STI and LTI awards were adjusted in accordance with the
new role categories.
In the event that at least 25% of the voting rights exercised are against the Remuneration Policy or Implementation Report at the annual
general meeting (AGM) the Board invites dissenting shareholders to engage with Sasol after such AGM.
The Committee has taken note of the reduction in support of the Policy and the Implementation Report
and has taken steps to obtain feedback from institutional advisors.
Remuneration outcomes against target
The following graph illustrates the threshold, target, and potential maximum earnings at stretch level
in terms of the different parts of the pay mix approved by the Committee for members of the GEC.
In addition, the outcome against the targets set for the year under review, is included. The quantum
and mix between guaranteed and variable pay components were again evaluated as part of the
benchmarking process. The Committee intends to review the short-term incentive formula in FY25,
which may impact the pay mix, more specifically the maximum potential earnings.
Executive Management 2024 remuneration mix
50
90
40
80
40
42%
70
42%
41%
30
60
30
41%
40
Rm
Rm
Rm
50
20
20
10
0
54%
27%
16%
CEO
threshold
CEO actual
(annualised)
CEO
target
CEO
max
STI
0
10
26%
10
100%
37%
6%
29%
32%
25%
Annual TGP/Base Salary
39%
39%
42%
30
21%
20
39%
100%
74%
32%
19%
CFO
threshold
CFO actual
(annualised)
CFO
target
CFO
max
LTI
SASOL INTEGRATED REPORT 2024
135
0
26%
21%
100%
73%
35%
22%
GEC
threshold
GEC actual
(annualised)
GEC
target
GEC
max
