The Spar Group paid its CEO, Graham O’Connor, R9.1 million in 2016 which represented a 13% increase when compared to the 2015 figure of R8 million. His package was made of a basic salary of R5.1 plus a performance bonus of R4 million.
O’Connor earnings appear depressed but not so if one considers the share option gains that occur in other financial periods. O’Connor did not realise any share option gains during the period under review. But some of his colleagues did register huge gains. Take Roelf Venter who is Group Retail Operations Director. He got a basic salary of about R3.5 million plus a short term bonus of R2.5 million. Venter realised a hopping R28.6 million in share option gains bringing hois total earnings for the year to R34.7 million.
Mark Godfrey, Group Financial Director, realised share option gains of R4 million in 2016 boosting his total earnings to R10.7 million. The earnings of Wayne Hook, New Business and Support Services Director, also appear depressed in 2016 at R7.4 million. But he realised significant share option gains in 2015 which inflated his total earnings to R18.4 million.
Spar is positioned as one of the largest retailing groups in South Africa with a growing international presence. It generated turnover of R90 billion during the year ended September 2016 with 68% of revenue coming from South Africa and 23% from Ireland.
|The Spar Group 2015/16 Exec Remuneration(Rands in Million)|
|Total Exec Dir||62||48.2||28.6|
Spar also pays its non executive directors relatively well with the chairperson of the board, Mike Hankinson, gaining R1.09 million in fees during the year under review. The board lists people like Phumla Mnganga who earned R483 000 in fees, Marang Mashologu (R387 000), Harish Mehta (R597 000) and Nziwakhe Madi (R398 000).
|The Spar Group Non Exec Remuneration ( Rand in Million)|
|Total Non Exec Dir|