PICK n Pay chief executive Sean Summers has been granted a substantial amount of shares as an incentive to turn the struggling retailer around.
In an announcement, the group says it granted him four million shares in its restricted share plan earlier in July.
At R27 a share, these could be worth as much as R108 million. These are subject to specific performance conditions that “combine qualitative and quantitative indicators critical to the turnaround of the core Pick n Pay supermarket business”. – moneyweb.co.za