Sappi Management

Management criteria checks 4/4

Sappi's CEO is Steve Binnie, appointed in Jul 2014, has a tenure of 9.83 years. total yearly compensation is $971.58K, comprised of 54.8% salary and 45.2% bonuses, including company stock and options. directly owns 0.081% of the company’s shares, worth ZAR24.26M. The average tenure of the management team and the board of directors is 12.3 years and 6.4 years respectively.

Key information

Steve Binnie

Chief executive officer

US$971.6k

Total compensation

CEO salary percentage	54.8%
CEO tenure	9.8yrs
CEO ownership	0.08%
Management average tenure	12.3yrs
Board average tenure	6.4yrs

Recent management updates

We Think Shareholders Are Less Likely To Approve A Large Pay Rise For Sappi Limited's (JSE:SAP) CEO For Now

Feb 01

Recent updates

Why We're Not Concerned About Sappi Limited's (JSE:SAP) Share Price

Mar 12

We Think Shareholders Are Less Likely To Approve A Large Pay Rise For Sappi Limited's (JSE:SAP) CEO For Now

Feb 01

Sappi's (JSE:SAP) Shareholders Have More To Worry About Than Only Soft Earnings

Dec 21

CEO Compensation Analysis

How has Steve Binnie's remuneration changed compared to Sappi's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	-US$57m
Oct 01 2023	n/a	n/a	US$259m
Jun 30 2023	n/a	n/a	US$325m
Mar 31 2023	n/a	n/a	US$484m
Dec 31 2022	n/a	n/a	US$603m
Oct 02 2022	n/a	n/a	US$536m
Jun 30 2022	n/a	n/a	US$545m
Mar 31 2022	n/a	n/a	US$364m
Dec 31 2021	n/a	n/a	US$153m
Sep 26 2021	n/a	n/a	US$13m
Jun 30 2021	n/a	n/a	-US$110m
Mar 31 2021	n/a	n/a	-US$201m
Dec 31 2020	n/a	n/a	-US$176m
Sep 27 2020	n/a	n/a	-US$135m
Jun 30 2020	n/a	n/a	US$3m
Mar 31 2020	n/a	n/a	US$84m
Dec 31 2019	n/a	n/a	US$154m
Sep 29 2019	n/a	n/a	US$211m
Jun 30 2019	n/a	n/a	US$268m
Mar 31 2019	n/a	n/a	US$311m
Dec 31 2018	n/a	n/a	US$341m
Sep 30 2018	US$2m	US$558k	US$323m
Jun 30 2018	n/a	n/a	US$318m
Mar 31 2018	n/a	n/a	US$325m
Dec 31 2017	n/a	n/a	US$311m
Oct 01 2017	n/a	n/a	US$338m

Compensation vs Market: Steve's total compensation ($USD971.58K) is about average for companies of similar size in the ZA market ($USD983.62K).

Compensation vs Earnings: Steve's compensation has been consistent with company performance over the past year.

CEO

Steve Binnie (56 yo)

9.8yrs

Tenure

US$971,578

Compensation

Mr. Stephen Robert Binnie, also known as Steve, B.Com, B Acc, CA(SA), MBA has been the Chief Executive Officer of Sappi Limited since July 1, 2014. Mr. Binnie served as the Chief Financial Officer at Sappi...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Stephen Binnie	CEO & Executive Director	9.8yrs	US$971.58k	0.081% $ 24.3m
Glen Pearce	CFO & Executive Director	9.8yrs	US$541.10k	0.038% $ 11.2m
Maarten van Hoven	Group Head of Strategy & Legal	12.4yrs	US$355.90k	0.041% $ 12.1m
Fergus Conan Marupen	Group Head of Human Resources	9.2yrs	US$347.88k	0.018% $ 5.5m
Mohamed Mansoor	Executive Vice President of Sappi Pulp	32.8yrs	US$779.78k	0.015% $ 4.3m
Alexander van Coller Thiel	Chief Executive Officer of Sappi Southern Africa	34.4yrs	US$695.85k	0.11% $ 32.5m
Michael Haws	Chief Executive Officer of Sappi North America	12.3yrs	US$918.94k	0.011% $ 3.2m
Marco Eikelenboom	Chief Executive Officer of Sappi Europe	31.7yrs	US$858.11k	0.0062% $ 1.8m
Marjorie Boles	Group Chief Information Officer	5.9yrs	no data	no data
Tracy Wessels	Group Head of Investor Relations & Sustainability	3.3yrs	no data	no data
Andre S. Oberholzer	Group Head of Corporate Affairs	no data	no data	no data
Roland Agar	Group Head of Internal Audit	16.8yrs	no data	no data

12.3yrs

Average Tenure

56yo

Average Age

Experienced Management: SAP's management team is seasoned and experienced (12.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Stephen Binnie	CEO & Executive Director	11.7yrs	US$971.58k	0.081% $ 24.3m
Glen Pearce	CFO & Executive Director	26.9yrs	US$541.10k	0.038% $ 11.2m
James Lopez	Independent Non-Executive Director	5.2yrs	US$113.78k	no data
Robertus Johannes Antonius Renders	Independent Non Executive Director	8.6yrs	US$147.77k	no data
Mohammed Moosa	Lead Independent Director	13.8yrs	US$74.77k	no data
Nkululeko Sowazi	Independent Chairman	1.6yrs	US$49.33k	no data
Brian Beamish	Independent Non Executive Director	5.2yrs	US$124.02k	no data
Eleni Istavridis	Independent Non-Executive Director	1.6yrs	US$120.83k	no data
Michael Fallon	Independent Non-Executive Director	12.7yrs	US$135.04k	no data
Bonakele Mehlomakulu	Independent Non-Executive Director	7.2yrs	US$58.25k	no data
Zola Malinga	Independent Non-Executive Director	5.6yrs	US$49.33k	no data
Louis Leon Zeuner	Independent Non-Executive Director	1.7yrs	US$49.33k	no data

6.4yrs

Average Tenure

62yo

Average Age

Experienced Board: SAP's board of directors are considered experienced (6.4 years average tenure).

Sappi Management

Management criteria checks 4/4

Key information

Recent management updates

We Think Shareholders Are Less Likely To Approve A Large Pay Rise For Sappi Limited's (JSE:SAP) CEO For Now

Sappi Limited Announces Valli Moosa Retires as Lead Independent Director and Chairman of Social, Ethics, Transformation and Sustainability Committee

Sappi Limited, Annual General Meeting, Feb 07, 2024

Sappi Limited, Annual General Meeting, Feb 08, 2023

Insufficient new directors

Insufficient new directors

Recent updates

Why We're Not Concerned About Sappi Limited's (JSE:SAP) Share Price

Sappi Limited to Report Q3, 2024 Results on Nov 07, 2024

Consensus EPS estimates fall by 79%

We Think Shareholders Are Less Likely To Approve A Large Pay Rise For Sappi Limited's (JSE:SAP) CEO For Now

Consensus EPS estimates fall by 30%, revenue upgraded

Sappi's (JSE:SAP) Shareholders Have More To Worry About Than Only Soft Earnings

Sappi Limited Announces Valli Moosa Retires as Lead Independent Director and Chairman of Social, Ethics, Transformation and Sustainability Committee

Sappi Limited, Annual General Meeting, Feb 07, 2024

Sappi Limited to Report Q1, 2024 Results on Feb 07, 2024

Full year 2023 earnings released: EPS: US$0.46 (vs US$0.95 in FY 2022)

Sappi Limited Approves Dividend for the Year Ended September 2023, Payable on 15 January 2024

Sappi Limited(JSE:SAP) dropped from FTSE All-World Index (USD)

Sappi Limited to Report Q4, 2023 Results on Nov 09, 2023

Consensus EPS estimates increase by 11%, revenue downgraded

New minor risk - Earnings quality

New minor risk - Profit margin trend

Third quarter 2023 earnings released: EPS: US$0.071 (vs US$0.35 in 3Q 2022)

Consensus EPS estimates fall by 10%

Sappi Limited to Report Q3, 2023 Results on Aug 03, 2023

Consensus EPS estimates increase by 17%, revenue downgraded

Consensus EPS estimates increase by 42%

Sappi Limited to Report Q2, 2023 Results on May 11, 2023

Consensus EPS estimates fall by 12%

Upcoming dividend of R2.67 per share

Full year 2022 earnings: EPS misses analyst expectations

Sappi Limited, Annual General Meeting, Feb 08, 2023

Consensus forecasts updated

Insufficient new directors

Consensus forecasts updated

Full year 2022 earnings: Revenues exceed analyst expectations

Sappi Limited to Report Q1, 2023 Results on Feb 08, 2023

AURELIUS Investment Lux One S.à.r.l. entered into an agreement to acquire Maastricht Mill, Stockstadt Mill and Kirkniemi Mill from Sappi Limited (JSE:SAP)

AURELIUS Investment Lux One S.à.r.l. entered into an agreement to acquire Maastricht Mill, Stockstadt Mill and Kirkniemi Mill from Sappi Limited (JSE:SAP)

Now 20% undervalued after recent price drop

Consensus EPS estimates increase by 16%

Third quarter 2022 earnings released: EPS: US$0.35 (vs US$0.033 in 3Q 2021)

Insufficient new directors

Insufficient new directors

Investor sentiment improved over the past week

Now 21% undervalued

Consensus revenue estimates increase by 10%

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

Sappi Limited to Report Q3, 2022 Results on Aug 04, 2022

Full year 2021 earnings: EPS and revenues miss analyst expectations

Group Head of Human Resources recently bought R229k worth of stock

CEO & Executive Director exercised options to buy R772k worth of stock.

Full year 2021 earnings released: EPS US$0.024 (vs US$0.25 loss in FY 2020)

High number of new directors

Sappi Limited Announces Impact of Civil Unrest on South African Operations

Second quarter 2021 earnings released: US$0.042 loss per share (vs US$0.004 profit in 2Q 2020)

Chief Executive Officer of Sappi Europe Berend Wiersum has left the company

New 90-day high: R47.79

First quarter 2021 earnings released: US$0.031 loss per share (vs US$0.044 profit in 1Q 2020)

Revenue and earnings miss expectations

Sappi Limited to Report Q2, 2021 Results on May 06, 2021

New 90-day high: R44.86

Sappi Limited to Report Q1, 2021 Results on Feb 03, 2021

New 90-day high: R36.29

Full year 2020 earnings released: US$0.25 loss per share

Earnings beat expectations, revenue disappoints

Sappi Limited Announces Executive Changes

An unknown buyer acquired an unknown stake in Sappi Limited (JSE:SAP).

New 90-day high: R28.75

Earnings beat expectations, revenue disappoints

Full year 2020 earnings released: US$0.25 loss per share

Analysts update estimates

New 90-day low - R22.53

Sappi Limited to Report Q3, 2020 Results on Jul 30, 2020

CEO Compensation Analysis