Moneyweb reports that it was revealed in Tiger Brands’ integrated annual report, published in December, that the company paid new chief executive Lawrence Mac Dougall a sign on bonus of R20 million in 2016.  

He joined the company on 10 May from Mondelez International (the global confectionary business spun off from Kraft Foods) where he had been employed since November 2012.  He had been with Cadbury (later bought by Kraft) since 1982.  Mac Dougall’s appointment was announced in March last year, following what the board termed a “rigorous five-month process to interview and select the new CEO”.  Aside from the sign on bonus, Mac Dougall earned a further R3.782 million in the less than five months to end September, comprising a “cash salary” of R3.053 million, a bonus of R513,000 and retirement fund contributions and other benefits totaling R216,000.  He was also awarded a “special long-term incentive plan allocation” as well as performance shares.  

• Read this report by Hilton Tarrant in full at Moneyweb

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