Shoprite CEO's pay up by 4.5% to top R21.27m | IOL Business Report

DURBAN - Shoprite Holdings chief executive Pieter Engelbrecht’s total remuneration was R21.27million in 2019, up by 4.5percent compared with last year's R20.36m, according to the retailer's annual report released on Friday. The report strove to be more transparent following shareholders’ discontent over pay policies last year. The total remuneration figure includes a short-term incentive of R4.44m, R214000 in benefits and other benefits of R491000.

Engelbrecht’s annual salary increase to R16.13m rose by 7.5percent compared with the R15.01m he earned in 2018. Shoprite’s chief financial officer, Anton de Bruyn, received total remuneration of R6.74m, up by 31percent compared with R5.15m he received in 2018. His annual salary of R3.12m was up by 27.7percent compared with last year's salary of R2.45m.

The remuneration package of the group's divisional manager, Ram Harisunker, declined by 3.9percent to R5.72m, compared with R5.96m last year. The biggest reason for the decline was a 13.2percent decline in his short-term incentives, which fell to R1.4m in 2019 compared with R1.62m in 2018.

busrep Vagabonds, All is in the hands of those who voted for ANC

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WATCH: What lies ahead for SA’s mining industryMinerals Council SA CEO Roger Baxter talks to Business Day TV about the Joburg Indaba
Source: BDliveSA - 🏆 12. / 63 Read more »

Sibanye to create gold holding firm | IOL Business ReportSibanye-Stillwater is overhauling its corporate structure and will create a holding company for its gold assets, months after it took over platinum producer Lonmin. busrep
Source: IOL - 🏆 46. / 51 Read more »

Air passengers advised to pack their own food | IOL Business ReportNumsa has advised airline passengers to pack their own food as it prepares for a strike at Air Chefs over allegedly unpaid “anniversary bonuses”. busrep
Source: IOL - 🏆 46. / 51 Read more »

No impact on operations at Air Chefs | IOL Business ReportAir Chefs management took steps to ensure that if the planned industrial action occurred, there should be minimal or no impact ...
Source: IOL - 🏆 46. / 51 Read more »

Business Maverick: HSBC to Cut Up to 10,000 Jobs to Slash Costs, FT ReportsHSBC Holdings Plc may eliminate as many as 10,000 jobs as part of a cost-cutting drive, according to a Financial Times report that signaled Europe may bear the brunt of the initiative.
Source: dailymaverick - 🏆 3. / 84 Read more »

EDITORIAL: Not such a good business journey for Ian MoirIt is not easy to understand why Woolworths' less-than-successful CEO is being paid so much
Source: BDliveSA - 🏆 12. / 63 Read more »