In-Detail Advertising and Design
 
 
 
 
 
 
 
 
   
 
 
 
 
     
   
   
     
   
PET#0087
Category: Economy & Business
 
Stop Eskom from paying bonuses to the amount of R9.22 million on 31 March 2008.
Created by Powergroup on 05 March 2008 at 23:25
Contact creator of this petition >
Total Signatures: 1,367 Petition Target: As Many as Possible
Petition Deadline: Open Deadline 
 

In 2006 the average total annual remuneration of all Chief Executive Officers of JSE listed companies was R4,57 million. The CEO of Eskom received 50% more than this average. Because the population contains certain large variances on the bottom of the scale as well as at the top of the scale, an average was also calculated that excludes the top and bottom 5%. In comparison to this adjusted average, the Eskom CEO received 105% more than his counterparts. In terms of this comparison, the CEO of Eskom is a very highly remunerated officer, possibly one of the highest in the country.

The performance criteria for the payment of the “Award Performance Shares” includes financial and non-financial criteria as per an agreed weighting per performance areas that includes capacity, cost of electricity, people, environmental factors, customer service and quality of supply. The weighting is not disclosed in the annual report but if the payment

of previous bonuses is anything to go by, the current crisis will have little effect on the payment of bonuses.

The first of these “Award performance Shares” bonuses to the amount of R9,22 million is due for payment on 31 March 2008. Should the board of Eskom not seriously reconsider the merits and criteria for payment of these bonuses? The actual purpose and reason for the existence of Eskom is the reliable supply of power to South Afirca. In this they have failed. It seems that the performance measurement criteria might have been a significant factor in contributing to the creation of the current problem. The performance measurement process should reflect this failure and prevent the payment of any bonuses.

Additional comments added on April, 02 2008
This petition is stil active. The specific amount of the bonuses must stil be calculated. Powergroup is ready to bring an application against Eskom / Government to stop the payout of the bonuses. Kindly visit www.powergroup.org.za for more details.
 
 
     
     
             
 
I the undersigned hereby show my support for this petition.
FIRST NAME:   * required
SURNAME:   * required
ID NO:   * optional
EMAIL:   * optional
    Your email address will remain hidden to the public, and only the creator of this petition may send you any email messages.  
CELL NUMBER:   * optional
    your cell number will remain private and only the petition creator may send you any SMS messages.  
COMMENTS:   Limited to only 200 characters.
Only
characters left.

   
 
YOUR NAME:    
FRIENDS' EMAIL:    
ADDITIONAL COMMENTS:    
    Send to many friends »
 
Import your contacts from one of the accounts below
 
       
 
 
 
Last 4 Signatures:
1367   Ted Blom   Stop the rot now.
1366   Zarin Thomson  
1365   yogita chunder  
1364   Sherri-lee Rundle   They wish to increase tarriffs by 45% every 3 years, I see why, the CEO's are greedy and are wanting more money from us for higher bonuses. No bonuses for failure to perform!
1363   Siena Benz  
1362   Bianca Knoesen  
1361   Gerdouw Steyn  
1360   Daniel Heerden   The increase will kill the country
1359   Alyssa de Saldanha   Why do we have to pay for the people whoe are not. We pay our taxes and we pay our bills, why do we have to suffer?
1358   Nthabiseng Nkonki   I support this.
View all signatures
1 | 2 | 3 | 4 | 5 | 6 | Next>
 
 
 
Forum:   By:   Posts:   Last Post:
Post a Forum >
 
       
       
CONTACT US > TERMS OF USE >