Steinhoff’s Star gave Ben la Grange generous 30% pay increase
Steinhoff Africa Retail (Star) paid its former CEO Ben la Grange R50.2m in its 2017 financial year, its annual report released on its website on Friday showed. La Grange, who resigned as Star’s CEO on December 6 to focus on his other job as chief financial officer of parent group Steinhoff International following an accounting scandal that led to the sudden resignation of its CEO Markus Jooste, received a 30% pay increase from the R38.7m in the retail group’s 2016 financial year. La Grange’s basic remuneration for the year to end-September was R14.4m, which was topped up with a R13.7m annual bonus, a R13.3m deferred bonus an R8.3m strategic bonus.
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