Former PPC CEO Darryll Castle’s total remuneration for its 2018
financial year came to R18.9m — of which R16.8m was described as
“other” in addition to his R1.8m salary and R248,000 retirement and
medical aid contributions.
Castle’s hefty exit payout followed the R16.7m his predecessor Ketso
Gordhan received in 2014.
“PPC’s outgoing CEO, Mr Darryll Castle, was on a five-year
employment contract and his services terminated on July 31 2017. At the time of
his termination, Mr Castle had served 31 months of his 60-month contract. In
terms of the contractual agreement, Mr Castle received an exit payment
reflecting his pay for the remaining term of the contract and received an
amount in respect of accrued leave,” the annual report said.
Castle was replaced by Johannes Claassen whose remuneration was R7.3m
for its 2018 financial year.
In its 2017 financial year, Castle’s remuneration was R7.7m and
Claassen’s was R4.7m.
Source: Business Live