Woolies boss gets R100m

Bagattini's total remuneration drops to R65.3m in FY2024.

Woolworths CEO Roy Bagattini has been awarded sizeable chunks of shares under the group's long-term incentive scheme in the 2023 and 2024 financial years that total nearly R100 million.

The bulk of these, which were awarded in the last financial year, have a fair value of R67 million.

Bagattini was awarded a further R30 million in shares between July last year and June this year.

Overall, his total remuneration in the just-ended financial year was practically half the amount he received in FY2023. In FY2024, he received total remuneration of R65.3 million versus the R122.5 million in FY2023.

His base salary was R19 million, around R1 million more than he was paid last year (an increase of 5.1%). Along with this, he received R2.5 million in benefits, which include retirement, healthcare, and related benefits.

This also includes discounts received on purchases in Woolworths stores (which all group employees are entitled to).

Bagattini is paid in both rands and Australian dollars. The group says this is "to reflect the time and focus spent in the different geographies".