Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
CEO gets R70m sign-on 'bonus'
The Citizen
|March 13, 2025
QUINN: TOTAL PAY TOPPED R106M IN 2024
The new chief executive of Nedbank, Jason Quinn (appointed from June 2024), was awarded R62.7 million in shares under the group's long-term incentive scheme in August and a further R9.15 million in a deferred short-term incentive in his first month at the group.
Nedbank says these awards were made "in respect of the value of awards that he forfeited on resignation from his previous employer".
Quinn resigned as financial director of Absa Group on 22 November, 2023 "with immediate effect".
The forfeited Absa incentives Quinn was interim CEO of Absa between April 2021 and March 2022.
His former employer notes that as part of a "retention arrangement" agreed when former Absa CEO Arrie Rautenbach was appointed and Quinn returned to his previous position as FD, as well as "subsequent exit terms, he forfeited 50% of all outstanding deferred short-term incentive awards and 100% of all long-term incentive awards on the date of his resignation".
This story is from the March 13, 2025 edition of The Citizen.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Citizen
The Citizen
Xmas tree erection dilemma
When is the right time to put up a Christmas tree? My neighbour asked this while she helped me decorate mine.
1 mins
November 26, 2025
The Citizen
Crime scene bed bugs
RESEARCH: SILENT WITNESSES CAN HARBOUR DNA EVIDENCE FOR 45 DAYS → Science can determine gender, eye, hair and skin colour of suspects.
2 mins
November 26, 2025
The Citizen
Ramaphosa's construction dream in ruins
Abandoned projects and impunity undermine South Africa's pledge to build, writes AK Bantseke.
1 min
November 26, 2025
The Citizen
Edgars shrinks to grow profits, says boss
Edgars has cut more than 100 000m² from its national footprint in a bid to restore profitability, a move chief executive Norman Drieselmann says is reshaping the retailer after years of inherited structural problems.
1 mins
November 26, 2025
The Citizen
King Peles an ‘improved' horse
CONFIDENCE: TRAINER VAN ZYL BELIEVES HIS CHARGE HAS MATURED AHEAD OF SUMMER CUP
2 mins
November 26, 2025
The Citizen
Boks are truly a dream team
Such has the Springboks' dominance been over the past year, it comes as no surprise that six South African players have been included in World Rugby's Dream Team of 2025.
1 min
November 26, 2025
The Citizen
Cyril orders probe into misconduct at tourism
President Cyril Ramaphosa has issued a proclamation authorising the Special Investigating Unit (SIU) to investigate allegations of serious maladministration and improper conduct at SA Tourism (SAT).
1 min
November 26, 2025
The Citizen
Black Friday set to surge
DATA: LOW INFLATION, STRONGER RAND, RISING SALARIES FUEL OPTIMISM
2 mins
November 26, 2025
The Citizen
Scopa poised to charge RAF CEO
DEADLINE: AXE WILL FALL IF THERE IS ANOTHER NO-SHOW >>> Letsoalo subpoenaed to testify in inquiry into agency's operations.
1 mins
November 26, 2025
The Citizen
Better the devil you know
DEPARTURE: ANC TAKEN OFF GUARD BY RAMAPHOSA'S APPARENT INTENTION TO WALK
3 mins
November 26, 2025
Listen
Translate
Change font size