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
Brian Molefe must fall! – ANC leadership

Brian Molefe must fall! – ANC leadership

The Money Show’s Bruce Whitfield interviews labour analyst Terry Bell.

'What’s going to happen in 2019? Gwede Mantashe must be tone-deaf!'

'What’s going to happen in 2019? Gwede Mantashe must be tone-deaf!'

The Money Show's Bruce Whitfield interviews Prof Nick Binedell (Gordon Institute of Business Science) and EWN’s Stephen Grootes.

Michael Fridjhon (South Africa’s foremost wine expert) opens up about money

Michael Fridjhon (South Africa’s foremost wine expert) opens up about money

Every week The Money Show’s Bruce Whitfield interviews a famous person about her or his attitude to money.

Jay Naidoo begs for change (now, or we’re 'heading for an explosion')

Jay Naidoo begs for change (now, or we’re 'heading for an explosion')

Bruce Whitfield interviews former Minister (1994 – 1999) Jay Naidoo about his new book “Change - Organising tomorrow, today”.

3 best investments on the JSE right now (by Ashburton Fund Managers)

3 best investments on the JSE right now (by Ashburton Fund Managers)

Looking for stock picks? The Money Show’s Bruce Whitfield interviews Fund Manager Jason Forssman.

Want to retire rich? Mind your mind (not only your money)

Want to retire rich? Mind your mind (not only your money)

The Money Show’s Bruce Whitfield interviews Financial Life Planning Institute Certified Financial Planner Kim Potgieter.

Popular articles
Cape Town's flexi work hours an 'absolute hit'

Cape Town's flexi work hours an 'absolute hit'

Tax advisory company Grant Thornton has extended remote working and flexible staff hours since the City's announcement.

Read Spur CEO Pierre van Tonder's open letter to Solidarity's Dirk Hermann

Read Spur CEO Pierre van Tonder's open letter to Solidarity's Dirk Hermann

"Dear Dirk, I refer to your open letter published on Maroela Media on 23 May in which you make some contentious statements..."

Grade 6 pupil falls to his death at Edgemead Primary

Grade 6 pupil falls to his death at Edgemead Primary

MEC for Education at Western Cape says an investigation will be launched into the school tragedy.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.