Impala Platinum Holdings Management

Management criteria checks 2/4

We currently do not have sufficient information about the CEO.

Key information

Nico Muller

Chief executive officer

n/a

Total compensation

CEO salary percentage	n/a
CEO tenure	7yrs
CEO ownership	0.05%
Management average tenure	5.3yrs
Board average tenure	5.7yrs

Recent management updates

Recent updates

We Think Some Shareholders May Hesitate To Increase Impala Platinum Holdings Limited's (JSE:IMP) CEO Compensation

Oct 06

A Look At The Fair Value Of Impala Platinum Holdings Limited (JSE:IMP)

Sep 06

An Intrinsic Calculation For Impala Platinum Holdings Limited (JSE:IMP) Suggests It's 39% Undervalued

Jun 04

Impala Platinum Holdings (JSE:IMP) Is Investing Its Capital With Increasing Efficiency

Apr 11

A Look At The Fair Value Of Impala Platinum Holdings Limited (JSE:IMP)

Feb 17

Is There An Opportunity With Impala Platinum Holdings Limited's (JSE:IMP) 32% Undervaluation?

Nov 16

Robust Earnings May Not Tell The Whole Story For Impala Platinum Holdings (JSE:IMP)

Sep 12

Earnings Working Against Impala Platinum Holdings Limited's (JSE:IMP) Share Price Following 29% Dive

Sep 11

Impala Platinum Holdings (JSE:IMP) Knows How To Allocate Capital Effectively

Jun 29

CEO Compensation Analysis

How has Nico Muller's remuneration changed compared to Impala Platinum Holdings's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	-R7b
Sep 30 2023	n/a	n/a	-R1b
Jun 30 2023	n/a	n/a	R5b
Mar 31 2023	n/a	n/a	R19b
Dec 31 2022	n/a	n/a	R32b
Sep 30 2022	n/a	n/a	R32b
Jun 30 2022	R89m	R12m	R32b
Mar 31 2022	n/a	n/a	R34b
Dec 31 2021	n/a	n/a	R36b
Sep 30 2021	n/a	n/a	R41b
Jun 30 2021	R87m	R11m	R47b
Mar 31 2021	n/a	n/a	R42b
Dec 31 2020	n/a	n/a	R38b
Sep 30 2020	n/a	n/a	R27b
Jun 30 2020	R38m	R11m	R16b
Mar 31 2020	n/a	n/a	R9b
Dec 31 2019	n/a	n/a	R3b
Sep 30 2019	n/a	n/a	R2b
Jun 30 2019	R15m	R10m	R1b
Mar 31 2019	n/a	n/a	-R3b
Dec 31 2018	n/a	n/a	-R8b
Sep 30 2018	n/a	n/a	-R9b
Jun 30 2018	R16m	R9m	-R11b
Mar 31 2018	n/a	n/a	-R9b
Dec 31 2017	n/a	n/a	-R8b
Sep 30 2017	n/a	n/a	-R8b
Jun 30 2017	R12m	R2m	-R8b

Compensation vs Market: Insufficient data to establish whether Nico's total compensation is reasonable compared to companies of similar size in the ZA market.

Compensation vs Earnings: Nico's compensation has increased whilst the company is unprofitable.

CEO

Nico Muller (57 yo)

7yrs

Tenure

R88,851,000

Compensation

Mr. Nicolaas Johannes Muller, also known as Nico, B.Sc., Mining Eng., has been the Chief Executive Officer and Executive Director of Impala Platinum Holdings Limited since April 3, 2017. Mr. Muller has a m...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Nicolaas Muller	CEO & Executive Director	7yrs	R88.85m	0.047% ZAR 36.6m
Meroonisha Kerber	CFO, Debt Officer & Executive Director	5.7yrs	R41.21m	0.016% ZAR 12.2m
Mark Munroe	Group Chief Technical Officer	less than a year	R37.97m	no data
Kirthanya Pillay	Group Executive of Corporate Development	4.8yrs	R16.67m	no data
Sifiso Sibiya	Group Executive of Refining & Marketing	5.3yrs	R15.44m	no data
Lee-Ann Samuel	Group Executive of People & Executive Director	6.5yrs	R36.14m	0.0079% ZAR 6.2m
Johan Theron	Group Executive of Corporate Affairs	5.4yrs	R27.86m	no data
Jonathan Andrews	Group Executive of Health & Safety	no data	R24.71m	no data
Tebogo Llale	Company Secretary	9.7yrs	R13.14m	no data
Tim Hill	Chief Executive Officer of Impala Canada	4.3yrs	R1.88m	no data
Patrick Morutlwa	Group Chief Operating Officer	less than a year	no data	no data
Stefanie Vivier	Group Legal Services Manager	no data	no data	no data

5.3yrs

Average Tenure

50yo

Average Age

Experienced Management: IMP's management team is seasoned and experienced (5.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Nicolaas Muller	CEO & Executive Director	7yrs	R88.85m	0.047% ZAR 36.6m
Meroonisha Kerber	CFO, Debt Officer & Executive Director	5.7yrs	R41.21m	0.016% ZAR 12.2m
Lee-Ann Samuel	Group Executive of People & Executive Director	6.4yrs	R36.14m	0.0079% ZAR 6.2m
Zacharias Swanepoel	Lead Independent Director	9.1yrs	R1.45m	0.0025% ZAR 1.9m
Ralph Havenstein	Independent Non-Executive Director	3.3yrs	R1.23m	no data
Preston Speckmann	Independent Non-Executive Director	5.7yrs	R1.21m	no data
Mpho Elizabeth Nkeli	Independent Non-Executive Director	9yrs	R1.41m	no data
Dawn Earp	Independent Non-Executive Director	5.7yrs	R1.64m	no data
Noluthando Bahedile Orleyn	Independent Non-Executive Chairman	3.7yrs	R2.95m	0.000060% ZAR 46.6k
Fholisani Mufamadi	Independent Non-Executive Director	9.1yrs	R867.00k	no data
Mametja Moshe	Independent Non-Executive Director	1.8yrs	no data	no data
Boitumelo Koshane	Non-Executive Director	4.7yrs	R1.08m	no data

5.7yrs

Average Tenure

60yo

Average Age

Experienced Board: IMP's board of directors are considered experienced (5.7 years average tenure).

Impala Platinum Holdings Management

Management criteria checks 2/4

Key information

Recent management updates

Lead Independent Director recently bought R720k worth of stock

Impala Platinum Holdings Limited, Annual General Meeting, Oct 30, 2024

Impala Platinum Holdings Limited Approves the Appointment of Mametja Moshe as Audit and Risk Committee Member

Insufficient new directors

Impala Platinum Holdings Limited Announces Management Changes

CFO, Debt Officer & Executive Director recently sold R1.3m worth of stock

Recent updates

Price target increased by 10% to R104

Lead Independent Director recently bought R720k worth of stock

First half 2024 earnings released: EPS: R1.80 (vs R16.49 in 1H 2023)

Consensus EPS estimates increase by 18%

Impala Platinum Holdings Limited Provides Earnings Guidance for the Six Months Ended 31 December 2023

Consensus EPS estimates fall by 16%

Price target decreased by 7.0% to R107

Impala Platinum Holdings Limited Provides Earnings Guidance for the Six Months Ended December 31, 2023

Impala Platinum Holdings Limited (JSE:IMP) acquired remaining 43.59% in Royal Bafokeng Platinum Limited for ZAR 2.7 billion.

Consensus EPS estimates fall by 10%

Investor sentiment improves as stock rises 27%

Consensus EPS estimates fall by 55%

Consensus EPS estimates increase by 16%, revenue downgraded

Investor sentiment deteriorates as stock falls 16%

Impala Platinum Holdings Limited, Annual General Meeting, Oct 30, 2024

Consensus EPS estimates fall by 13%

Price target decreased by 8.8% to R122

Impala Platinum Holdings Limited Approves the Appointment of Mametja Moshe as Audit and Risk Committee Member

Investor sentiment deteriorates as stock falls 18%

Consensus revenue estimates decrease by 12%

Investor sentiment deteriorates as stock falls 20%

Investor sentiment improves as stock rises 17%

Price target decreased by 15% to R146

Full year 2023 earnings released: EPS: R5.77 (vs R38.56 in FY 2022)

New minor risk - Earnings quality

Impala Platinum Holdings Limited Declares Dividend for the Financial Year Ended 30 June 2023, Payable on 26 September 2023

Insufficient new directors

Investor sentiment deteriorates as stock falls 17%

New minor risk - Shareholder dilution

Investor sentiment deteriorates as stock falls 15%

Impala Platinum Holdings Limited Announces Management Changes

Consensus EPS estimates fall by 14%

Upcoming dividend of R4.20 per share at 9.4% yield

First half 2023 earnings released: EPS: R16.49 (vs R16.93 in 1H 2022)

CFO, Debt Officer & Executive Director recently sold R1.3m worth of stock

Impala Platinum Holdings Limited Announces Passing of an Independent Non-Executive Director, Peter William Davey

Price target increased to R245

Impala Platinum Holdings Limited, Annual General Meeting, Oct 11, 2023

Now 20% undervalued

Impala Platinum Holdings Limited to Report Fiscal Year 2023 Results on Aug 31, 2023

Board Member recently sold R6.0m worth of stock

CEO & Executive Director exercised options and sold R4.1m worth of stock

Public Investment Corporation SOC Limited on behalf of its clients acquired an unknown minority stake in Impala Platinum Holdings Limited (JSE:IMP).

We Think Some Shareholders May Hesitate To Increase Impala Platinum Holdings Limited's (JSE:IMP) CEO Compensation

Investor sentiment deteriorated over the past week

Upcoming dividend of R10.50 per share

Full year 2022 earnings released: EPS: R38.56 (vs R59.96 in FY 2021)

A Look At The Fair Value Of Impala Platinum Holdings Limited (JSE:IMP)

Investor sentiment deteriorated over the past week

Price target decreased to R235

An Intrinsic Calculation For Impala Platinum Holdings Limited (JSE:IMP) Suggests It's 39% Undervalued

Impala Platinum Holdings (JSE:IMP) Is Investing Its Capital With Increasing Efficiency

Now 23% undervalued after recent price drop

Now 21% undervalued

Upcoming dividend of R5.25 per share

CFO, Debt Officer & Executive Director recently sold R2.8m worth of stock

First half 2022 earnings: EPS and revenues miss analyst expectations

Impala Platinum Holdings Limited Announces Interim Cash Dividend Results for the Six Months Ended 31 December 2021, Payable on 22 March 2022

Investor sentiment improved over the past week

A Look At The Fair Value Of Impala Platinum Holdings Limited (JSE:IMP)

Impala Platinum Holdings Limited Provides Earnings Guidance for the Six Months Ended December 31, 2021

Now 20% undervalued

Now 20% undervalued

Price target decreased to R278

Board Member recently sold R14m worth of stock

Board Member exercised options and sold R9.0m worth of stock

CEO & Executive Director recently sold R51m worth of stock

Price target increased to R301

Investor sentiment improved over the past week