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Massmart's CEO Mitchell Slape on R24m renumeration package

Massmartâs CEO Mitchell Slape on R24m renumeration package
By Dineo Faku
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JOHANNESBURG - MASSMART chief executive Mitchell Slape received a R24 million remuneration package during the year ended December 2020, the group said in its 2020 integrated annual report released on Friday.
Slapeâs salary included a R7.11m in guaranteed package, R6.8m in other benefits, R4.2m in other bonuses and R6.05m in short-term incentives.
Slape, who succeeded Guy Hayward as chief executive in September 2019, had received a total pay package of R6.5m in 2019.
Slape earned his salary in US dollars, although the amounts were stated in rands, given that he was a US citizen on expatriate assignment in South Africa, Massmart, owner of retail brands Makro, Game and Builders Warehouse said on Friday. ....

South Africa , United Kingdom , Mitch Slape , Mohammed Abdool Samad , Mitchell Slape , Southern African Development Community , Guy Hayward , Builders Warehouse , Business Report , Cambridge Food , Southern African Development , ஒன்றுபட்டது கிஂக்டம் , முகமது சமத் , பையன் வைக்கோல் , பில்டர்கள் கிடங்கு , வணிக அறிக்கை , கேம்பிரிட்ஜ் உணவு ,

Massmart surges over 20%, but has the market overreacted?

MONEYWEB
LIVESTREAM
Massmart surges over 20%, but has the market overreacted?
Some analysts think so, considering the Game and Makro ownerâs wider FY losses, debt burden and lack of dividend.
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Game, Massmart s biggest division in terms of number of stores, continues to make a loss. Image: Suren Naidoo, Moneyweb
JSE-listed retail and wholesale group Massmartâs share price soared 20.76% on Monday, closing at R54.10 a share â the highest level in more than a year.
The surge came following the release of the groupâs full-year results to December 27, 2020, which show that sales declined 7.7% to R86.5 billion, contributing to a wider net loss of R1.75 billion (2019: R1.29 billion). ....

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Target: Groundbreaking ceremony in Yonkers, New York

Target: Groundbreaking ceremony in Yonkers, New York
US: Walmart Board of Directors adds former AT&T Chairman and CEO Randall Stephenson
Walmart Inc. announced that its Board of Directors has appointed Randall Stephenson, former Chairman and Chief Executive Officer of AT&T Inc., as a new member of the company’s board, Stephenson became the 12th member of the board. “Randall’s experience as a global business leader and, in particular, his leadership skills and insights in finance, technology, retail and brand management will be a tremendous benefit as we shape the next generation of retail”, said Walmart Chairman of the Board Greg Penner. “We look forward to working with him as we drive Walmart’s strategy forward and continue providing effective governance for all our stakeholders”. ....

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Massmart plans to sell Cambridge Food, Rhino and Fruitspot

Massmart plans to sell Cambridge Food, Rhino and Fruitspot
Serbian competition authorities clear Mercator’s transfer to Fortenova Group
Fortenova Group has announced that the Serbian commission for protection of competition has approved the intention of the group to acquire control over the company Poslovni sistem Mercator d.d., Ljubljana. The company has fulfilled regulatory prerequisites to obtain approval from the competent national regulatory authorities for the protection of market competition in all required territories, including Serbia, Bosnia and Herzegovina, Montenegro, and Northern Macedonia. Fortenova Group has also obtained approval from the European Commission.
UK: Deliveroo reduces losses
Over the past year, Deliveroo has, once again, grown strongly, although it still made a considerable loss. In the meantime, the British meal delivery company is working on the previously announced IPO. Deliveroo saw the transaction value increase by 64% to 4.1bln ....

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7 things you need to know today

7 things you need to know today
iol.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iol.co.za Daily Mail and Mail on Sunday newspapers.

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