South African executive Gillian McMahon, an executive director at Bidvest — a leading South African services, trading, and distribution group — received a compensation package of R22.73 million ($1.2 million) from the leading industrial group in 2023.
McMahon’s compensation, a testament to Bidvest’s exceptional financial performance in 2023, underscores her pivotal role in the company’s recent financial milestones. This reflects a substantial 50.75-percent increase compared to her compensation package of R15.08 million ($0.8 million) in the preceding year.
The director’s compensation package comprises a base salary of R5.49 million ($0.29 million) and a short-term incentive of R0.34 million ($0.017 million). Additionally, she received a long-term incentive of R8.13 million ($0.43 million).
Bidvest’s evolution: From 1988 startup to Global business giant
Founded in 1988, Bidvest is a global company with diverse business interests spanning services, freight, financial services, branded products, commercial products, and automotive sectors. Operating in South Africa, the UK, Ireland, Spain, and Australia, Bidvest oversees more than 250 businesses with a workforce exceeding 125,000 employees.
McMahon, appointed as Bidvest’s executive director in May 2015, brings a wealth of expertise in customer service, operations, training, and human resources. With previous key roles at Bidvest, such as commercial director of Bidtravel, McMahon currently serves as the Group transformation executive and holds directorship positions in various Bidvest subsidiaries.
McMahon’s 10,057 shares signify interest in Bidvest’s growth
Under McMahon’s leadership, Bidvest achieved a notable 14.99 percent increase in revenue, reaching R114.91 billion ($6.04 billion) from the previous year’s R99.93 billion ($5.26 billion). Additionally, the group’s gross profit saw an 11.28 percent rise, reaching R33.34 billion ($1.75 billion) compared to R29.96 billion ($1.58 billion) in 2023.
McMahon’s commitment to Bidvest’s success goes beyond her executive role, evident in her 0.0030-percent stake in the company, equivalent to 10,057 shares valued at R2.49 million ($0.13 million). This underscores her dedication to the growth and expansion of Bidvest.
