South African executive Fleetwood Grobler, the president and CEO of Sasol Limited, a global chemicals and energy company based in South Africa, earned a compensation package of R40.69 million ($2.15 million) for his role in the company’s financial performance in 2023.Â
Despite a 5.24-percent decrease compared to the previous year’s R42.95 million ($2.26 million), Grobler’s leadership continues to play a key role in Sasol’s financial performance in recent times.
His 2023 compensation comprises a base salary of R13.12 million ($0.69 million), a performance-driven short-term incentive of R10.36 million ($0.55 million), and a long-term incentive of R17.03 million ($0.89 million).
Fleetwood Grobler’s career: From engineering student to Sasol’s top executive
Sasol Limited, founded in South Africa in 1950, is known for its expertise in developing and selling technologies for valuable products like fuels, chemicals, and clean electricity. It’s listed on both the Johannesburg Stock Exchange and the New York Stock Exchange.
Grobler, appointed as CEO in November 2019, leads a team of 31,270 employees across 32 countries. With a career spanning decades at Sasol, starting as an engineering student in the 1980s, Grobler has climbed the ranks to the top leadership position.
Before taking on the role of Sasol’s CEO in November 2019, Grobler held key executive positions, including managing director of Sasol Olefins and Surfactants and executive vice president of Sasol’s chemical business in Germany.
Beyond the boardroom: Grobler’s $0.4-million stake reflects deep commitment
Under Fleetwood Grobler’s leadership, Sasol’s revenue increased by 6.21 percent from R272.75 billion ($14.40 billion) in 2022 to R289.69 billion ($15.29 billion) in the 2023 financial year.
Additionally, the group’s assets grew by 3.4 percent, rising from R419.55 billion ($22.15 billion) in 2022 to R433.84 billion ($22.91 billion) in 2023.
In addition to his executive role, Grobler holds a 0.0075-percent stake in Sasol Limited, equivalent to 49,898 ordinary shares, presently valued at R7.55 million ($0.4 million), aligning his interests with the company’s success.
