ADDRESS THE MESS
So Nick Holland of Gold Fields has forfeited his bonus and been rebuked by the board for the miner’s BEE deal, nice to see a CEO taking responsibility – but frankly there are many other issues they are ignoring. Why not a forfeited bonus due to gross under performance of the share price and production? Why not a forfeit for not maximising the record gold price and hedging some production at say $1 600? Sure, the BEE deal is apparently a mess but the other messy issues are seemingly being ignored while the CEO gets a basic salary of some R10m a year.