Recruitment specialist explains Whitey Basson's R100m bonus

Boards back individuals who can make it happen.

Andrew Woodburn

Christo Wiese said that if he could find more Whitey Bassons he’d hire them all!

Bruce Whitfield, The Money Show

Shoprite doubled CEO Whitey Basson’s pay to R100.1 million due to a bonus for beating the targeted growth in profits.

Basson has been at the helm since 1979 when the retail behemoth had eight outlets (in 2014 there were 1855).

What do you need to do to earn R100 million?

What is it that makes Basson so valuable?

The Money Show’s Bruce Whitfield interviewed Andrew Woodburn, Executive Search Expert and Managing Director at Woodburn Mann.

Editors note: This headline has been amended to reflect that this is the view of executive recruitment specialist, Andrew Woodburn and not that of 702.

Scroll down for more quotes from the audio below.

It’s about remaining competitive at a world level.

Andrew Woodburn

This type of remuneration is built up over years. He’s been there for decades.

Andrew Woodburn

A remuneration committee will periodically negotiate the criteria that must be met.

Andrew Woodburn

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.

Read More
How to create more time (and how to spend it wisely)

How to create more time (and how to spend it wisely)

Make no mistake; strategizing to grow your business takes time. Yet, few business owners seem to have enough of it.

Some investments are more attractive after Budget 2017 (some not so much)

Some investments are more attractive after Budget 2017 (some not so much)

Personal Financial Advisor Warren Ingram gives advice on where to put your money; considering changes brought by Budget 2017.

Cricket SA guns for international superstars to play in new #T20 Global League

Cricket SA guns for international superstars to play in new #T20 Global League

Best. News. EVER! South Africa is getting its own global T20 league. Bruce Whitfield interviews Cricket SA CEO Haroon Lorgat.

Budget 2017 and tax: The good (there is some), the bad and the ugly

Budget 2017 and tax: The good (there is some), the bad and the ugly

The Money Show’s Bruce Whitfield interviews TaxTim cofounder Marc Sevitz.

Meet Zibusiso Mkhwanazi; CEO of “Digital at the core marketing agency” AVATAR

Meet Zibusiso Mkhwanazi; CEO of “Digital at the core marketing agency” AVATAR

Mkhwanazi – son of an entrepreneur – founded a web design firm (Csonke.com) with R2000 when he was 17 and still in school.

5 most important ways Budget 2017 will tighten your belt for you

5 most important ways Budget 2017 will tighten your belt for you

The Money Show's Bruce Whitfield interviews Personal Finance Journalist Maya Fischer-French.

Popular articles
Some investments are more attractive after Budget 2017 (some not so much)

Some investments are more attractive after Budget 2017 (some not so much)

Personal Financial Advisor Warren Ingram gives advice on where to put your money; considering changes brought by Budget 2017.

Criminal charges laid against culprit of Stellies rooster assault

Criminal charges laid against culprit of Stellies rooster assault

Police are probing a complaint about a man who tossed a rooster around and forced it to smoke a cigarette at a Stellenbosch party.

New transfer cost threshold an unwise move - property expert

New transfer cost threshold an unwise move - property expert

What does the Finance Minister's announcement on transfer duty threshold really mean for home buyers?

Budget 2017 and tax: The good (there is some), the bad and the ugly

Budget 2017 and tax: The good (there is some), the bad and the ugly

The Money Show’s Bruce Whitfield interviews TaxTim cofounder Marc Sevitz.

Cape Town has the worst traffic and Joburg pips it to the post

Cape Town has the worst traffic and Joburg pips it to the post

TomTom Traffic Index 2017 findings have revealed that Cape Town is South Africa’s most congested city when it comes to traffic.

Legality of Brian Molefe’s Parliamentary nomination called into question

Legality of Brian Molefe’s Parliamentary nomination called into question

A lack of transparency raises suspicions as to whether Molefe's route to Parliament has been ushered in with integrity.