RCL Foods’ dirty exec enrichment scheme
Remgro-owned RCL has incensed shareholders with its decision to splash scarce cash on an incentive scheme
02 April 2020 - 05:00
RCL’s decision to help top executives cash out of a supposed long-term share incentive scheme has infuriated shareholder activists and embarrassed parent Remgro, which has described the plan as an "administrative nightmare".
In short, RCL Foods — a perennial underperformer — is set to fork out R149m to buy executives out of a conditional share plan after just three years, during which time its share price has fallen by more than a third...
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