Chief executives are quite literally worth their weight in gold.
In a new book, "Executive Pay in South Africa - Who Gets What and Why", financial journalists Ann Crotty and Renée Bonorchis found that with gold trading at around R138000 a kg at the time of going to press, and the average chief executive weighing in at about 90 kg, paying a chief executive in gold would cost R12,4million.
This is not far off the average pay of the chief executives investigated in the book.
The book set out to understand the reasons behind the advance of executive remuneration since 2002.
"The requirement to disclose executive remuneration has failed miserably to attain its most important objective: to determine whether or not the key players in our economy are being rewarded appropriately," said the authors. - I-Net Bridge