Home » South African executive Seelan Gobalsamy pockets $4.9-million salary in 2023

South African executive Seelan Gobalsamy pockets $4.9-million salary in 2023

Gobalsamy's leadership propels Omnia: 12.9-percent gross profit surge to $1.4 billion

by Feyisayo Ajayi
Seelan Gobalsamy

Seelan Gobalsamy – a leading South African executive and the CEO of Omnia Holdings – received a compensation package totaling R92.35 million ($4.94 million) from the group at the end of its 2023 financial year.

In 2023, Gobalsamy’s compensation experienced a significant increase of 179.4 percent compared to the previous year, when it stood at R33.06 million ($1.8 million). This rise reflects the noteworthy achievements and progress made by the company under his leadership.

The compensation package comprises a base salary of R7.53 million ($0.40 million), along with a short-term incentive of R14.29 million ($0.76 million). Additionally, Gobalsamy received a long-term incentive of R52.08 million ($2.79 million), highlighting the outstanding performance of the diversified company throughout the year.

Leadership excellence: Gobalsamy’s stint as STANLIB Group CEO

Omnia Group, a well-established company with 70 years in the chemical industry, serves agriculture, mining, and chemicals in 26 countries, with a reach of 40 countries. It is listed on the Johannesburg Stock Exchange and A2X Markets and holds a Level 2 B-BBEE status in South Africa.

Gobalsamy, appointed CEO in September 2019, brings nearly two decades of experience as an accomplished international business leader in financial services. His previous roles include CEO, CFO, and MD in emerging markets, with significant leadership positions such as CEO of emerging markets at Liberty Holdings and group CEO of STANLIB Group.

Gobalsamy’s leadership propels Omnia: 12.9-percent gross profit surge to $1.4 billion

Under Gobalsamy’s leadership, Omnia experienced significant financial growth in the 2023 fiscal year. The company saw a 12.9 percent increase in gross profit, rising to R5.22 billion ($278.10 million) from R4.62 billion ($246.34 billion) in 2022.

Furthermore, total assets rose to R16.84 billion ($897.29 million) from R16.01 billion ($853.38 million), accompanied by a 23.95-percent surge in revenue, reaching R26.57 billion ($1.42 billion) from R21.44 billion ($1.14 billion).

In addition to his executive role, Gobalsamy maintains a 1.25-percent stake in Omnia Holdings, equivalent to 2,074,944 shares valued at R134.04 million ($7.15 million). This strategic alignment of personal interests with the company’s success underscores Gobalsamy’s dedication to Omnia’s ongoing prosperity.

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