Tiger Brands Earning their stripes?
Not something we do very often, money not being something that is discussed in our family, but what the heck eh? Of note in the recent Tiger Brands annual report was some detail about what the boys, and indeed ladies, in the corner offices raked in during the year in question. First up, new CEO Lawrence MacDougall, who snaffled a sign-on bonus of R20million, plus another ±R3.8million in the five-odd months through September, with a cash salary of ±R3.053million, a bonus of R513,000 and retirement and other benefits of R216,000. Outgoing CEO Peter Matlare wandered off with ±R8.7million in his back sky, comprising a ±R1.2million cash salary, R786,000 in share options exercised, R209,000 in retirement fund contributions and ±R6.5million in “other benefits”. CFO and onetime pretender to the throne Noel Doyle was paid a princely total of ±R16.5million, R10million of which was a retention bonus.
Comment: On that note, we resign. Anyone? Anyone at all?.