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Boss gets paid R200m
The Citizen
|September 17, 2024
Over 10 years, CEO’s salary has increased by 76%.
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AIthough shares in Truworths International have recovered from their Covid lows, they remain below the peaks achieved in 2013, 2016 and 2018.
Over the past decade (between 1 July 2015 and 30 June this year), shares are up just 7%. Put another way, its market capitalisation was R36 billion in July 2015. Today, it is R38 billion.
Over the same period, the JSE Top 40 delivered a return of 8.76% per year on average. That represents a total return of well over 100% (130% if compounded).
Over that same period, Truworths CEO Michael Mark has been incredibly well remunerated. Across the 10 financial years, he has been paid a total of R206.6 million in guaranteed pay, benefits and short-term incentives.
This story is from the September 17, 2024 edition of The Citizen.
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