Thando Mkatshana, the CEO of ARM Platinum, part of the African Rainbow Minerals (ARM) group, received a compensation package totaling R34.45 million ($1.80 million) for his pivotal role in the company’s financial performance at the close of the 2022 fiscal year.
This significant compensation package marks a remarkable 56.88-percent increase compared to the previous year’s reward of R21.96 million ($1.15 million), underscoring his integral role within the organization.
Mkatshana’s compensation package comprises a base salary of R4.50 million ($236,586) and a short-term incentive of R4.58 million ($240,198). Additionally, he received a long-term incentive award of R24.82 million ($1.3 million) from ARM, acknowledging his commitment and extensive expertise as a seasoned professional in the mining industry.
Mkatshana‘s name resonates through the corridors of ARM, a diversified mining and mineral company founded by South African billionaire Patrice Motsepe in 1997. Mkatshana commenced his journey with ARM in July 2011, when he assumed a pivotal role in the company’s coal operations.
He subsequently ascended to the position of CEO ARM Coal and took on additional responsibilities as CEO in 2012. His exemplary career trajectory continued as he was appointed to the Board in 2015 and has effectively held the reins as CEO of ARM Platinum since February 2017.Â
Thando Mkatshana has led ARM to achieve remarkable financial milestones
During his tenure as CEO of ARM Platinum, Mkatshana has led the company to achieve remarkable financial milestones. Under his leadership, the mining company’s total assets consistently expanded, surging from R53.1 billion ($2.75 billion) in 2021 to R59.17 billion ($3.06 billion) in the closing year of 2022.
In addition to his executive and governance responsibilities, Mkatshana holds a minority 0.0035-percent stake in African Rainbow Minerals, equivalent to 7,846, further solidifying his status as one of South Africa’s most affluent executives.
