Distell: no reward for shareholders patience
Executives at the alcohol beverage group appear to be the only beneficiaries of high returns over the past seven years
It’s difficult to know what to make of Distell’s shareholders — they’re either a particularly forgiving bunch or they don’t see much connection between executive remuneration and profits.
At the recent AGM, 99% of them backed both the board’s remuneration report and the implementation report. This means it wasn’t just Remgro and the Public Investment Corp (PIC), each of which holds 31.4%, that voted in favour of a scheme that seems not to have produced the goods for the past several years...