Moneyweb reports that Shoprite Holdings has granted directors and executives of the group, as well as its main subsidiary Shoprite Checkers (Pty) Ltd, forfeitable share awards totalling R110 million.
The first chunk, for awards in terms of its Executive Share Plan, totalled R56 million, while the awards in terms of its Short-Term Deferred Incentive totalled R53.8 million. The former award has a three-year vesting period, while the latter’s vesting period is two years. CEO Pieter Engelbrecht was granted a total of R33.4 million in performance-based awards, and CFO Anton De Bruyn was granted a total of R14.7 million in awards. The group’s deputy CEO, Joseph Brönn, was granted R13.1 million in awards, and its COO, Willem Hunlun, received R10.3 million in awards. These are both very senior roles within the group, but only the CEO and CFO are on the board.
Other awards were to Neil Schreuder, the group’s chief strategy and innovation officer, Andrew Havinga, the group’s chief supply chain officer, Leanne Goliath, the group company secretary, Natasha Moolman, head of investor relations, and Maude Modise, the executive for enterprise and government. This was a significant award of shares to executives, after the group reported an 8.6% increase in revenue to R256.7 billion in the year to 29 June.
- Read the full original of the report in the above regard at Moneyweb
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