Gus Attridge, a leading South African business executive and co-founder of Aspen Pharmacare Holdings, Africa’s largest pharmaceutical company, received a total compensation of R24.15 million ($1.32 million) from the Durban-based pharmaceutical company in 2023.
According to the company’s annual report, Attridge received a total compensation package of R24.15 million ($1.32 million) in the fiscal year 2023. The total compensation for 2023 is 3.4-percent higher than his compensation in the previous year.
Attridge’s 2023 compensation package includes a base salary of R5.7 million ($312,144) and a performance-based short-term incentive of R1.79 million ($98,223) derived from the bank’s performance during the fiscal year.
Aspen Pharmacare faced challenges in its operating environment, resulting in a 24.10-percent decline in profit. Profits dropped from R6.49 billion ($333.01 million) in 2022 to R5.23 billion ($268.34 million) in fiscal year 2023.
Attridge’s entrepreneurial prowess is underscored by his co-founding role alongside Stephen Saad in Aspen Pharmacare, a transformative force in the pharmaceutical world. Established in 1997, this venture has soared under Attridge’s guidance to become one of the largest global generic drugmakers.
As deputy CEO and finance director, Attridge’s leadership has driven Aspen Pharmacare’s expansion through strategic acquisitions in 2013, establishing a global presence with manufacturing facilities across Australia, Brazil, Mexico, Germany, South Africa, and Tanzania.
Apart from his executive and governance roles in Aspen Pharmacare, Attridge owns a notable 4.28-percent stake in Aspen. His stake is presently worth $195 million, cements his position as one of Africa’s most affluent business executives.
