South Africa’s Companies Amendment Act has put executive pay under the spotlight. It forces listed and state-owned firms to seek shareholder approval for pay policies and disclose pay gaps between executives and employees. In one of the most unequal societies in the world, that scrutiny is overdue.

But compliance is just the start. Boards need to rethink what they reward. Leadership incentives still lean too heavily on short-term shareholder returns. True accountability means linking pay to employee retention, skills development and long-term sustainability. Younger generations expect nothing less, and companies that ignore it risk losing trust and talent.

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BusinessLIVE — Corporate SA must address executive pay with transparency