Annual Financial Statements for the year ended 30 June 2021 0 - Book - Page 28
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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
elements.
skilled and engaged employees to work towards achieving Group
strategic objectives in a values-driven manner and to create
stakeholder value responsibly and sustainably.
Remuneration Policy
TO
HOW
WE
AC
H
VE
HIE
AC
Align
management's
interests with
that of
stakeholders
By linking the
achievement of
strategic priorities
with remuneration
outcomes
• 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
practices.
• 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
offering.
To drive
stakeholder value
sustainably
WH
• 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.
OBJECTIVES
LICY
PO
VE
IE
T THE POLIC
WHA
YA
IM
S
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
performance.
• 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.
Remuneration Philosophy
• 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:
Role category1
Description
Number in 2021
(2020)
President and
CEO
Enterprise-wide
accountability
for the Group,
reporting to the
Board.
1 (1)
GEC – CFO, other
Directors and
Prescribed Officers
Senior Vice Presidents
(SVP) – Group
leadership
The GEC has
the ultimate
authority within
the organisation
to set the strategy
and direction for
the Group, to be
approved by the
Board.
SVPs have global
or end-to-end
responsibility for
an operating model
entity/large Business
Segment/Regional
Business Platforms/
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
frameworks.
VPs have
regional, sector or
function-specific
responsibility for
a portion of a BU
or Group function.
VPs contribute to
strategy formulation
and then translates
this into tactical
plans, policies and
processes.
Experienced
professionals,
specialists and
experienced tactical
leaders who drive
performance
through
specific areas of
specialisation or
the management of
resources.
26 (36)
149 (195)
1 023 (1 061)
7 (8)
Vice Presidents
(VP) – leadership
1.We occasionally refer to Top Management in the report, which includes the President and CEO, GEC and Senior Vice Presidents.
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Sasol Annual Financial Statements 2021
Senior Management