Home » South African executive Niel Pretorius takes home over $1 million in 2023

South African executive Niel Pretorius takes home over $1 million in 2023

Pretorius earns $1.1-million salary from DRDGOLD in 2023

by Mfonobong Nsehe
Niël Pretorius

South African executive Niel Pretorius, the CEO of DRDGOLD Limited — a leading gold mining company based in Johannesburg — received a R20.51 million ($1.09 million) compensation package from the group in 2023.

Pretorius, who assumed the role of CEO in January 2019, scored a 2.61-percent increase in his compensation package in 2023, compared to the R19.99 million ($1.06 million) he received in the previous year.

His compensation comprises a base salary of R8.17 million ($0.43 million), augmented by a short-term incentive of R7.73 million ($0.41 million), additionally, he received a long-term incentive of R3.29 million ($0.18 million).

DRDGOLD’s captain: Pretorius’ rise from legal advisor to CEO in two decades

DRDGOLD Limited, a South African gold producer and a specialist in the recovery of the metal from the retreatment of surface tailings, operates through key segments including Ergo, FWGR. The company is dual listed on the Johannesburg Stock Exchange and New York Stock Exchange, maintaining an uninterrupted 16-year dividend payment record as of 2023.

Pretorius, with two decades of mining industry experience, assumed the CEO role on Jan. 1, 2009, after being appointed CEO designate in August 2008. He joined DRDGOLD in May 2003, as a legal advisor, progressing through roles like group legal counsel and general manager.

Starting as CEO of Ergo Mining Operations (formerly DRDGOLD SA) on July 1, 2006, and later becoming managing director on April 1, 2008, Pretorius is also an elected council member with the Minerals Council of South Africa.

Pretorius’ strategic investment: 0.12-percent stake in DRDGOLD reflects alignment

Under Pretorius’ leadership in 2023, DRDGOLD experienced substantial financial growth. Total assets increased from R7.08 billion ($376.54 million) to R8.15 billion ($433.78 million), marking a 15.2-percent rise.

The company also saw a 7.39-percent boost in revenue, reaching R5.49 billion ($292.38 million) compared to the previous year’s R5.12 billion ($272.27 million). Additionally, gross profit rose significantly by 15.1 percent, reaching R1.58 billion ($84.32 million) from R1.38 billion ($73.25 million) in 2022.

Beyond his executive duties, Pretorius maintains a 0.12-percent stake in DRDGOLD, equivalent to 999,816 shares valued at R14.99 million ($0.79 million), aligning his personal interests with the company’s ongoing success.

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