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Failed top brass cost SA R262m

By Sibongile Mashaba | Jan 27, 2010 | COMMENTS [ 0 ]

GOLDEN handshakes to the country's "failed" chief executives departing from parastatals have cost the South African public more than R262million in a decade.

Democratic Alliance MP Pieter van Dalen says this amount could jump to R347million if former Eskom CEO Jacob Maroga successfully sues the power utility company.

"If paid out, Maroga's R85million claim would be just the latest in a series of staggering salary payouts to unsuccessful executives," Van Dalen said yesterday.

"Since 2001, at least R262,1million has been awarded to parastatal bosses for their part in running their parastatals into the ground."

These payouts include:

An R8million settlement received by former South African Airways chief executive Khaya Ngqula after he was fired for his role in a R1billion tender rigging saga in 2009.

In 2004 former SAA CEO André Viljoen received R3,6million on top of a salary of R2,2million and a performance bonus of almost R1million. During Viljoen's last two years SAA lost R15 billion.

In 2001 former SAA CEO Coleman Andrews received a golden handshake of R232million - a record in South African history - though the airline posted a loss of R700million.

Last year the SABC paid R11million to its former group chief executive Dali Mpofu.

In 2005 former Denel chief executive Victor Moche walked away from the company with about R3million.

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