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
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