Paul Dunne, CEO of Northam Platinum Holdings, a Johannesburg-based integrated platinum group metal (PGM) company, got a remuneration package worth R27.52 million ($1.48 million) in 2023.
Dunne, who has led Northam Platinum Holdings since March 2014, saw a significant 40.9 percent decrease in his 2023 compensation package compared to the R46.57 million ($2.51 million) he received in the previous fiscal year.
His compensation package included a basic salary of R11.23 million ($0.60 million), a short-term incentive of R8.41 million ($0.45 million), and a long-term incentive of R6.48 million ($0.35 million).
Northam Platinum Holdings, an integrated PGM producer, operates through several segments, including Northam Holdings, Zondereinde, Booysendal, Eland, and U.S. recycling. The company manufactures platinum, palladium, and rhodium for a variety of industries, including automotive, jewelry, and others.
Dunne has been the CEO and director of Northam Platinum Limited since March 1, 2014, and a non-executive director of Royal Bafokeng Platinum Limited since December 7, 2021.
Before joining Northam, Dunne worked as an executive director at Impala Platinum, where he oversaw mining operations at the Rustenburg and Marula mines. He is also a director at Zambezi Platinum and the International Platinum Group Metals Association, where he has served as a non-executive director since October 2, 2014.
In 2023, Dunne led Northam Platinum to great financial growth. Total assets rose from R49.95 billion ($2.67 billion) to R58.98 billion ($3.16 billion), a noteworthy gain.
The company’s revenue increased by 16.1% to R39.55 billion ($2.12 billion), up from R34.06 billion ($1.82 billion) the previous year. Furthermore, gross profit increased by 3.77 percent to R15.45 billion ($826.79 million), up from R14.88 billion ($796.73 million) in 2022.
In addition to his managerial position, Dunne has a vested interest in Northam Holdings, with a 0.011 percent holding corresponding to 41,050 shares valued at R5.27 million ($0.28 million), which aligns his personal interests with the company’s continued growth.