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Jan 16, 2017

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This was disclosed in in the companys integrated annual report, published on December 29. Quotes in the article -0,65% He joined the company on May 10 from Mondelez International (the global confectionary business spun off from Kraft Foods) where he had been president of Eastern Europe, Middle East and Africa at Mondelez International since November 2012. He had been with Cadbury (later bought by Kraft) since 1982. Mac Dougalls 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 a special long-term incentive plan allocation of 36 000 share appreciation rights (granted at R341.70) as well as 8 160 performance shares (at the same price). By comparison, these numbers of shares are similar to the amounts forfeited by former chief executive Peter Matlare (who has been CEO since 2008). Chairperson of the groups remuneration committee, Santie Botha, writes in the report that the war for talent is at an all-time high and, led by our new CEO, we have reviewed all our pay offerings in a benchmark exercise against the top 100 JSE-listed organisations.

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