Interfront 2024 Annual Report
A B D E GOVERNANCE Remuneration of Board Members The National Treasury regulates the remuneration levels for Interfront’s independent, non- executive Board and committee members, with approval granted by the Minister of Finance. This ensures that compensation is fair, transparent and in line with public sector standards. Mr Mustaq Enus-Brey and Mr Gustav Vermaas, both independent, non-executive directors, receive remuneration for their roles as Board and committee members as prescribed by these regulations. This compensation reflects the significant responsibilities and time commitment required to oversee Interfront’s governance and strategic direction. It is also important to highlight that non-executive directors who are employees of the Shareholder do not receive any fees or remuneration from Interfront. This policy ensures that there is no conflict of interest and reinforces the integrity and independence of the Board’s oversight functions. By adhering to these remuneration guidelines, Interfront demonstrates its commitment to ethical governance and the prudent management of public funds. NAME MEMBER FEES (IN RAND) COMMITTEE FEES (IN RAND) TOTAL (IN RAND) Mustaq Enus-Brey 11 778 2 004 13 782 Gustav Vermaas 8 768 2 692 11 460 The remuneration paid to the Executive Directors is set out in Part E: Financial Information .
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