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Maree donates 10% of pay to needy pupils
Standard Bank's chief executive, Jacko Maree has pledged to donate 10% of his annual salary of R5,4-million to educating needy pupils in South Africa amid growing levels of unease over the high salaries that are paid to business leaders according to an article published in Business Day today, Monday, 5 September 2011.
Maree - who did not receive a salary increase last year - says that the donation will be over an above the normal taxes that he pays each year and confirmed that he will continue to make the donation for as long as the current personal tax structures remain in place.
Meanwhile, Business Unity South Africa says that it will address the contentious issue of executive pay levels when it meets with labour and government representatives in the months ahead.
Business Day reports that Busa's chief executive, Raymond Parsons said that issue would form part of the pending debate over the government's New Growth Path that was launched last year.
He says there will be "real engagement" over the issue of executive pay.
Read the article about Jacko Maree.
Read the article about Busa.
Find out more about pay scales for executives.
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