Shoprite CEO Engelbrecht gets $2.2m of $7m share pool

Thirteen executives at Shoprite Holdings, the South African group that is Africa’s largest grocery retailer, have been granted share awards worth a combined R114.7 million ($7.0 million), with chief executive Pieter Engelbrecht taking R35.5 million ($2.2 million) of it.

The awards run across three schemes — the group’s executive share plan, short-term deferred incentives and retention share awards. Engelbrecht’s portion alone is close to a third of the total. Chief financial officer Anton De Bruyn was granted R14.8 million ($905,000), deputy chief executive Joseph Brönn R13.9 million ($853,000) and chief operating officer Willem Hunlun R11.1 million ($681,000).

Only one of the thirteen received less than R1 million: Maude Modise, general manager for enterprise and supplier development, at R844,064.

De Bruyn elected to take part of his short-term deferred award through his wife, Zyla, worth R882,147 ($54,000). Separately, he transferred close to 37,000 Shoprite shares at R313.49 each into the Lazz Family Trust, of which he is a beneficiary, stock worth about R11.5 million ($704,000) at Friday’s close.

Neither move is unusual, and both were disclosed. They are, though, a rare public view of how senior African executives arrange holdings around spouses and family trusts rather than holding shares outright.

Engelbrecht’s remuneration for the 2025 financial year was R20.02 million, a 6 per cent increase on the prior year, against a total guaranteed package of R20.97 million and a short-term incentive achieved at 96.9 per cent of target. A vesting under the executive share plan added R30.5 million.

Shoprite puts his total 2025 pay at R87 million ($5.3 million). De Bruyn was paid R35.3 million ($2.2 million). Fuller remuneration detail for the two executive directors will appear in the annual report.