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.


This article first appeared on 702 : Recruitment specialist explains Whitey Basson's R100m bonus


Recommended

by NEWSROOM AI
Read More
Sygnia's Magda Wierzycka to sue Iqbal Survé again after charges laid against her

Sygnia's Magda Wierzycka to sue Iqbal Survé again after charges laid against her

The Money Show’s Bruce Whitfield interviews Magda Wierzycka, CEO at Sygnia Group.

[Watch the latest adverts] Do you agree? Chicken Licken is the boss of Nando’s!

[Watch the latest adverts] Do you agree? Chicken Licken is the boss of Nando’s!

Chicken Licken’s latest ad flame-grills the most recent one by Nando’s, says Nicholas Kühne of Wunderbrand.

South Africa lost 16 000 jobs in Q3/2018 despite end of recession

South Africa lost 16 000 jobs in Q3/2018 despite end of recession

GDP growth of 2.2% was not enough to stop the bleeding. Bruce Whitfield interviews Peter Worthington, Senior Economist at Absa.

10 most-read 'small business' articles from The Money Show in 2018

10 most-read 'small business' articles from The Money Show in 2018

Small business guru Pavlo Phitidis from Aurik Business Accelerator broke the internet with these helpful articles.

10 advertisements that broke the internet in 2018

10 advertisements that broke the internet in 2018

Some were good, some were great, many were just plain awful. They all went viral.

10 most-read 'personal finance' articles of 2018

10 most-read 'personal finance' articles of 2018

Making ends meet, investments, property, debt, financial freedom… these were the very best "your money" articles of the year.

Popular articles
'Evidence is solid. Poor people’s money was used illegally. Shivambu benefitted'

'Evidence is solid. Poor people’s money was used illegally. Shivambu benefitted'

Ray White interviews Pauli van Wyk, an investigative journalist with Scorpio at Daily Maverick.

Two men get away with R70 000 in robbery at Cape Town's World of Birds

Two men get away with R70 000 in robbery at Cape Town's World of Birds

Walter Mangold, the owner of the popular tourist attraction in Hout Bay, was targeted by two men on the premises on Sunday.

Judge Dennis Davis explains estate duty when your spouse dies

Judge Dennis Davis explains estate duty when your spouse dies

Some recommendations by the Davis Tax Committee were met with concerns from members of the public on how they will be affected.

Couple's 20 000 km cycle tour from Amsterdam ends in the Mother City

Couple's 20 000 km cycle tour from Amsterdam ends in the Mother City

A Knysna couple who cycled 20 000 Km across 20 countries finally arrived in Cape Town on Sunday ending their 18 months journey.

Here's how to check your load shedding schedule in Cape Town

Here's how to check your load shedding schedule in Cape Town

Eskom has warned that more power cuts can be expected as maintenance continues over the next twelve months.

New Zealand company implements four-day work week after successful trial-run

New Zealand company implements four-day work week after successful trial-run

Employees will still be paid for five days of work, but work for four days.