Annual Financial Statements for the year ended 30 June 2021 0 - Book - Page 28
SASOL LIMITED GROUP
Report of the Remuneration Committee continued
This first part of the report describes the roles and responsibilities
of management at Sasol and provides an overview of Sasol’s
remuneration philosophy and policy as well as remuneration
skilled and engaged employees to work towards achieving Group
strategic objectives in a values-driven manner and to create
stakeholder value responsibly and sustainably.
By linking the
• In setting incentive metrics, we consider value drivers which are
mostly within management’s control.
• The remuneration mix depends on the position in the
organisational structure as well as geographical market
• No form of unfair discrimination will be tolerated, and salary
differentials are substantiated through defensible principles
included in our Remuneration Policy.
• Rewards offered is a cornerstone of our employee value
proposition and well-integrated with the total employment
• Executive remuneration has a strong link to shareholder
interests, particularly the design of variable pay structures.
• Entry-level salaries are either determined by the company,
negotiated through collective bargaining or determined by
national legislation. Our minimum wage is higher than what is
considered a living wage for each jurisdiction and is enhanced by
benefits offered under our employee value proposition.
T THE POLIC
Our Remuneration Policy is a crucial enabler of Sasol’s strategy.
A sustainable, high-performance and values-driven culture remains
the key objective. The policy design strives to provide competitive,
market-aligned pay while balancing the need for cost containment,
risk management and value creation to stakeholders.
• We strive to offer a balanced mix of remuneration programmes
to all employees benchmarked on average to the market
median with actual distribution around the median based on
• Appropriate approval processes are in place to prevent conflicts
of interest and to mitigate risks that may unintentionally result
from our remuneration programmes.
Y W E D O T HIS
• The Committee is empowered to intervene in exceptional
circumstances when formulaic outcomes appear to be
inappropriate and/or not aligned with business performance.
• Sasol’s Remuneration Philosophy is to use internally equitable
and externally competitive yet affordable salary, benefits and
incentive structures to attract, retain and motivate qualified,
For clarity, the following terms are used for reporting purposes:
Number in 2021
for the Group,
reporting to the
GEC – CFO, other
Senior Vice Presidents
(SVP) – Group
The GEC has
to set the strategy
and direction for
the Group, to be
approved by the
SVPs have global
an operating model
Group function, to
ensure that their area
of accountability aligns
strategically with the
Business Unit (BU)
or Group’s direction.
Develops and sets
strategic BU or OME
guidelines, policy and
regional, sector or
a portion of a BU
or Group function.
VPs contribute to
and then translates
this into tactical
plans, policies and
leaders who drive
specific areas of
the management of
1 023 (1 061)
(VP) – leadership
1.We occasionally refer to Top Management in the report, which includes the President and CEO, GEC and Senior Vice Presidents.
Sasol Annual Financial Statements 2021