Sibanye Stillwater CEO Neal Froneman received a R56 million payday in 2023 – a significant drop from the R291 million he received in 2021.
PGMs are primarily used in catalytic converters in internal combustion engines to reduce their emissions. However, the rise of electric cars has called into question the need for a tool that reduces emissions. However, the jobs bloodbath is set to continue, with the group again entering into Section 189A consultations earlier this month.
Amid the group’s financial woes after the last year, its share price dropped from around R40 a share a year ago to roughly R22 per share today.
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