Follow

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use

Pick n Pay CEO Earns R25 Million Amid Strategic Turnaround

Pick n Pay CEO Sean Summers has received a total remuneration of R24.9 million for the financial year ending 2 March 2025. This amount comprises his base salary, with no retirement, medical, or short-term performance bonuses included. Additionally, Summers has been awarded R40.2 million in long-term performance-based shares, which are set to vest over the next 32 months, contingent upon meeting specific performance targets.

Summers, a seasoned executive with a long history at Pick n Pay, returned to the company in late 2023 to lead its recovery following challenges related to the Ekuseni strategy. His leadership has been pivotal in steering the company towards improved financial health.

Despite a reported loss of R736 million for the year, a significant improvement from the previous year’s R3.3 billion loss, the company is witnessing positive changes in its core grocery business. The remuneration committee’s decision to grant Summers performance-based shares reflects confidence in his leadership and the company’s strategic direction.

Advertisement

Pick n Pay’s executive remuneration
Add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use
Advertisement