Ex-Woolies CEO can net nearly R90m in incentives after retiring
Targets for the new CEO As reported following his appointment, Ngumeni was also awarded an “outperformance share award” of just under one million Woolworths shares, subject to “robust and stretching performance targets”, with “a focus on long-term value creation and alignment with shareholder interests”.
His guaranteed pay totalled just over R21 million, while his September 2023 LTI award vested at 47% against the group’s agreed performance conditions.
Ngumeni received total remuneration of R23 million for the year, with total guaranteed pay of R11.
This is a summary of the original articles listed below. Always read the source articles for the full context. GhanaSummary does not create or modify the news — we summarise and link to original publishers.
