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woolworthsBusiness Report writes that Woolworths group chief executive Ian Moir’s total remuneration declined 23.4% during the year to the end of June.  

This came as the retail company continued to battle headwinds from its Australian unit and a dampened consumer spending in its local home market.  Moir took home R23.04m during the period, compared with R30.56m the same period last year.  Woolworths’ annual report released on Monday said the shortfall could be attributed to the group's long-term incentives paid to Moir (R3.99m in 2019 and R11.5m in 2018).   His 2019 basic salary of R18.91m was slightly lower than the R18.92m he received last year.  The 2019 total remuneration package consisted of basic salary of R18.91m, benefits of R142,000 and dividends paid out to the value of R3.99m.  The group's SA chief executive Zyda Rylands received a total remuneration of R11.97m, while chief operating officer Sam Ngumeni took home R8.27m for the year.  Financial director Reeza Isaacs was paid a total package of R6.80m.  The combined total remuneration package for all executives for 2019 was R50.07m, less than the 2018 figure of R51.29m.

  • Read the full original of the report in the above regard by Sandile Mchunu at Business Report
  • Read too, Moir’s R28.5m share allocation suggests he is staying put at Woolworths, at BusinessLive

Get other news reports at the SA Labour News home page