Capitec CEO Gerrie Fourie got a total remuneration package of just under R20m for financial 2017. In addition, at the end of the year in February, he was sitting on a potential pretax profit of R132m on unvested and/or unexercised share awards. The unvested and/or unexercised shares were awarded to Fourie over a five-year period, dating back to 2013, the year before he was appointed CEO. The potentially hefty value of the share-related awards reflects the strong appreciation in the Capitec share price since 2013. In that year options and share appreciation rights were awarded at R198.52 each. This compares with the current share price of about R776. Over this period, Capitec registered the fastest rate of customer growth in the local banking sector and is now one of the five largest banks in the country by clients. In 2017, customer numbers rose to 8.6-million from 7.3-million in 2016. Fourie’s total guaranteed package for 2017 was R9.83m, which is a 16% increase on financial 2016. ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.