Home » South African exec Reeza Isaacs earns $1.9-million salary at Woolworths in 2023

South African exec Reeza Isaacs earns $1.9-million salary at Woolworths in 2023

Isaacs’ compensation package includes a base salary of $0.36 million, a long-term incentive award of $1.09 million

by Feyisayo Ajayi
Reeza Isaacs

South African executive Reeza Isaacs, the former CFO of Woolworths Holdings — one of the top companies listed on the Johannesburg Stock Exchange (JSE) and a prominent multinational retail company — received a compensation package amounting to R36.27 million ($1.95 million). Isaacs’ role in the group’s financial performance has been pivotal in recent years.

The compensation package, which showcased a staggering surge of 99.15 percent compared to the previous year’s R18.21 million ($0.98 million) award, underscores Isaacs’ indispensable commitment and prowess as a seasoned business executive in the global retail industry.

Isaacs’ compensation package includes a base salary of R6.78 million ($0.36 million), a long-term incentive award of R20.27 million ($1.09 million) and a short-term incentive which amounted to R8.32 million ($0.45 million), in recognition of his unwavering commitment and dedication to the group.

Isaacs’ storied career and impact at the helm of Woolworths Holdings 

Woolworths Holdings, headquartered in South Africa and established over eight decades ago, has evolved into a retail powerhouse. Presently, it dominates markets across South Africa, Australia, New Zealand, and more than 10 countries in sub-Saharan Africa, securing its position as one of the leading entities listed on the JSE.

Isaacs – who joined Woolworths in June 2013 —  initially assumed the role of Deputy CFO before ascending to Finance Director. He boasts a storied career spanning diverse sectors encompassing manufacturing, retail, oil, gas, asset management, and insurance.

During his tenure, Woolworths recorded an impressive surge in its profit. In recent times the group’s profits surged by 36.64 percent, soaring from R3.72 billion ($195.55 million) in 2022 to a record R5.08 billion ($267.21 million) in 2023. Additionally, the company delivered a revenue of R794.53 billion ($42.56 billion) in 2023, marking a 1.67 percent increase from the previous year’s revenue of R781.48 billion ($41.86 billion).

Isaacs’ $1.7-million stake demonstrates unwavering dedication to Woolworths

Isaacs’ contributions have left an indelible mark on Woolworths Holdings, solidifying his legacy as an integral figure in the company’s financial success in recent times.

Beyond his executive and governance responsibilities, he maintains a minority stake in the retail giant, possessing 451,313 shares. 

Presently valued at $1.71 million, this significant holding further emphasizes his enduring commitment and vested interest in the company’s continued success. 

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