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Naspers increases CEO Van Dijk’s pay 5% as profit rises

Van Dijk was paid $1.67m in the year through March, which included a $568,000 bonus.

Naspers, increased the compensation of Chief Executive Officer Bob van Dijk by 5% as the company prepares to further boost its international internet business in the face of falling pay TV customers in sub-Saharan Africa.

Van Dijk was paid $1.67 million in the year through March, which included a $568,000 bonus, compared with $1.59 million a year earlier, the Cape Town-based company said in its annual report, released on Friday. Chief Investment Officer Mark Sorour, who is responsible for mergers and acquisitions and asset sales, earned $2.08 million, compared with $2.09 million a year earlier, it said.

Naspers, Africa’s biggest company by market value, said on June 25 that fiscal full-year adjusted net income — its main measure of profit — rose 21% to $1.2 billion. The company has transformed itself from a South African newspaper publisher into a continent-wide multi-media provider and backer of emerging-market internet businesses.

Koos Bekker, who stepped down as CEO in 2014 and took on the role of chairman, earned $500,000 in fees for the year. His indirect shareholding in the company’s N-shares remained unchanged at 4.69 million shares.

© 2016 Bloomberg

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