BUSINESSMAN Andile Ngcaba, the former chairperson of South African-based technology company Dimension Data, has brought a lawsuit against the company for over R400 million for unequal remuneration.
The case raises interesting questions about how board committees work, the taking of minutes, and who has access to board minutes.
Ngcaba served as the executive chairperson of the company from 2004 to 2016. He learnt in 2016 that other senior executive directors were earning more than he was and that they were benefiting from a long-term incentive scheme, from which he was excluded.
He discovered this when the company publicly provided details of the salaries of executive directors. South Africa’s Companies Act requires companies to disclose the remuneration of their directors and prescribed officers in the annual financial statements.
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