South African executive Pieter van der Westhuizen, the group chief financial officer of Life Healthcare — a South Africa-based international healthcare company — received a compensation package totaling R14.58 million ($0.81 million) in the year 2023, as disclosed in the company’s recent financial report.
As the group’s CFO since Sept. 2013, Westhuizen’s remuneration marks an 18.4-percent increase from the R12.3 million ($0.66 million) package he received in the prior year. This underlines his role and expertise as a seasoned business executive in the global healthcare group.
His compensation package also includes a base salary of R6.53 million ($0.35 million), supplemented by a performance-based short-term incentive of R8.06 million ($0.43 million) — highlighting Westhuizen’s pivotal contributions to Life Healthcare’s triumphs.
The rise of Life Healthcare: Westhuizen’s leadership in transforming the Global Healthcare
Life Healthcare, founded in 1983 and based in Johannesburg, is an investment firm that operates hospitals globally. Its Southern Africa segment emphasizes hospitals and healthcare services, while its International segment specializes in diagnostics services.
Westhuizen‘s career trajectory saw him join President Investments Limited (Presmed) in 1999, which later became a part of Afrox Healthcare Limited. His various finance roles culminated in pivotal involvement in the delisting and relisting of the company as Life Healthcare in 2010.
Ascending to the role of group CFO in 2013, Westhuizen briefly assumed the position of acting group CEO from Jan. 17 to Aug. 31, 2020. His imprint on Life Healthcare Holdings is significant, cementing his legacy as a crucial figure in the company’s recent financial triumphs.
Masterful Leadership Propels Life Healthcare’s Exponential Financial Expansion
Under Westhuizen’s leadership, Life Healthcare witnessed substantial growth in 2023, marked by a surge in total assets to R45.62 billion ($2.44 billion) from R42.24 billion ($2.26 billion). The company also experienced a notable 10.3 percent increase in revenue, soaring to R22.64 billion ($1.21 billion) from R20.53 billion ($1.09 billion).
Beyond his executive responsibilities, Westhuizen holds a 0.096-percent stake in Life Healthcare, or 1,382,600 shares, valued at R25.20 million ($1.35 million), illustrating his vested interest in the company’s continued success.Â
Van der Westhuizen’s unwavering dedication and strategic financial acumen have undeniably propelled Life Healthcare’s financial achievements, establishing him as an integral pillar in the company’s growth trajectory.
