Sylvania Platinum CEO, Execs Sacrifice Salary

- December 12th, 2012

Reuters reported that in light of the violent strikes against Sylvania Platinum (ASX:SLP) earlier in the year, its chief executive along with some of its top executives are giving up a third of their pay to offset production losses.

Reuters reported that in light of the violent strikes against Sylvania Platinum (ASX:SLP) earlier in the year, its chief executive along with some of its top executives are giving up a third of their pay to offset production losses.

As quoted in the market news:

“South Africa’s platinum industry was hit by violent strikes earlier this year, spawned by income disparities and a union turf war for members.

The company had said in early October that it suspended operations due to an on-going strike at neighbouring mines. It resumed operations at its Mooinooi and Millsell plants in the Bushveld Igneous Complex in South Africa, later in the month.

Sylvania Platinum said production had recovered in November following the resumption of operations.”

 

Click here to read the full Reuters report.

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