Former Naspers CEO Bob van Dijk’s shocking pay cheque revealed

Naspers’ former Dutch CEO Bob van Dijk took home a eye-watering R333 million pay cheque for the latest financial year.

But that’s not nearly all!

Despite having stepped down from the role in September 2023, Van Dijk will still be paid R2.2 million a month for the next six months.

BOB VAN DIJK SPENT 10 YEARS AT NASPERS

According to BusinessTech, Naspers’ remuneration report for the period 1 April 2023 to 31 March 2024 shows that the former chief executive received a basic salary of $1.4 million as well as a bonus of an equal amount.

Naspers performance share units added $3.714 million, while Prosus performance share units saw Van Dijk bank a further $4.938 million.

There were also Naspers Global eCommerce share appreciation rights of $4.35 million and Naspers and Prosus share options of $1.441 million.

His severance package totalled $747 000, while he was also paid a pension of $96 000, while ‘other benefits’ amounted to $45 000.

That added up gave Van Dijk a salary payout amount of $18.269 million for the year.

At the exchange rate at the time of publishing (R18.23/$) that equates to R333 million – just shy of R1 million per day.

Van Dijk succeeded former Naspers CEO Koos Bekker in 2014 and was the CEO of Prosus since its listing in 2019.

Bekker, who is South Africa’s fourth-richest man with a net worth of $2.9 billion, is the chairman of Naspers and Prosus.

Meanwhile, Van Dijk agreed to remain available for consultation and guidance and entered into a consultancy agreement for the six-month period from 1 April 2024 to 30 September 2024.

He will receive a gross fee of €113 436.18 per month (R2.2 million per month) for his services to both Naspers and Prosus.

Together with his latest pay cheque, Van Dijk earned over R1.8 billion during his 10-year stay at the company, according to the Daily Investor website.

MEDIA24 SHUTS ICONIC NEWSPAPERS

Naspers – and its Media24 subsidiary – have been in the news of late following the announcement that it would be shutting five of its newspapers in the coming months.

The closures will see around 400 jobs lost.

Those newspapers affected are Afrikaans titles Rapport and Beeld, as well as English papers City Press, Daily Sun and Soccer Laduma.

Rapport, City Press and Daily Sun will become digital-only brands going forward.

Meanwhile, in other bombshell news made by Media24 CEO Ishmet Davidson at a town hall meeting with staff last week, it was confirmed that the digital editions of Volksblad and Die Burger Oos-Kaap would be culled, while the digital hub SNL24 would also be shut down.

Soccer Laduma, Daily Sun, KickOff and TRUELOVE and DRUM all currently fall under the SNL24 website.

Davidson cited a decline in circulation and advertising, coupled with rising fixed distribution costs as reasons for the decision having been taken.

Monday, 30 September 2024 has been earmarked as the last day of publication for the abovementioned newspapers.