South African executive Paul Dunne, the CEO of Northam Platinum Holdings — a Johannesburg-based integrated platinum group metal (PGM) producer — received a R27.52-million ($1.48-million) compensation package from the group in 2023.
Dunne, who has been at the helm of Northam Platinum Holdings since March 2014, saw a notable 40.9-percent decline in his 2023 compensation package compared to the R46.57 million ($2.51 million) he received in the previous fiscal year.
His compensation comprises a base salary of R11.23 million ($0.60 million), augmented by a short-term incentive of R8.41 million ($0.45 million), additionally, he received a long-term incentive of R6.48 million ($0.35 million).
Northam pioneering PGM production for diverse industries with Dunne’s directorial influence
Northam Platinum Holdings, an integrated PGM producer, operates through segments like Northam Holdings, Zondereinde, Booysendal, Eland, and U.S. recycling operations. The company specializes in producing platinum, palladium, and rhodium for industries such as motor manufacturing, jewelry, and other industrial sectors.
Dunne has been serving as the CEO and director of Northam Platinum Limited since March 1, 2014, and also holds a non-executive director position at Royal Bafokeng Platinum Limited since Dec. 7, 2021.
Prior to joining Northam, Dunne served as an executive director at Impala Platinum, overseeing mining operations at Rustenburg and Marula mines. Additionally, he holds directorships at Zambezi Platinum and the International Platinum Group Metals Association, serving as a non-executive director at Zambezi Platinum since Oct. 2, 2014.
Dunne’s leadership fuels Northam Platinum’s 16.1-percent revenue surge
Under Dunne’s leadership in 2023, Northam Platinum achieved significant financial growth. Total assets surged from R49.95 billion ($2.67 billion) to R58.98 billion ($3.16 billion), showcasing a remarkable increase.
The company also realized a notable 16.1-percent rise in revenue, reaching R39.55 billion ($2.12 billion) from the previous year’s R34.06 billion ($1.82 billion). Furthermore, the gross profit witnessed a 3.77-percent increase, escalating to R15.45 billion ($826.79 million) from R14.88 billion ($796.73 million) in 2022.
In addition to his executive role, Dunne maintains a vested interest in Northam Holdings, with a 0.011-percent stake equivalent to 41,050 shares valued at R5.27 million ($0.28 million), aligning his personal interests with the ongoing success of the company.
