Jannie Durand, the CEO of Remgro Limited, a prominent investment holding company in Stellenbosch, South Africa, received a compensation package of R39.79 million ($2.09 million) at the close of the 2023 financial year.
This reflects a substantial 58.67-percent increase compared to the previous year’s total of R25.08 million ($1.32 million), aligning with Remgro’s exceptional financial success in 2023.
Durand’s compensation comprises a base salary of R12.8 million ($0.67 million) and a short-term incentive of R0.44 million ($0.023 million). Additionally, he was granted a long-term incentive of R23.49 million ($1.23 million), underscoring Remgro’s outstanding performance during the year.
From CFO to CEO: Durand’s evolution and influential roles in leading companies
Founded in the 1940s by Anton Rupert, Remgro has grown its investment portfolio across nine platforms. The group holds diverse assets in banking, financial services, packaging, glass products, medical services, mining, petroleum, beverages, food, and personal care products.Â
Durand assumed the role of Remgro’s CEO in May 2012. With a robust history of board service, he currently chairs RCL Foods Limited and OUTsurance Group Limited. His board memberships also include Heineken Beverages Holdings Limited, Namibia Breweries Limited, and Mediclinic Group Limited. Before becoming CEO, Durand served in various roles within the Group, including Chief Investment Officer, Financial Director, and Chief Executive.
Strategic leadership and financial commitment: Durand’s shares in Remgro worth more than $7 million
Durand’s leadership at Remgro has driven remarkable financial growth. In 2023, the company achieved a substantial 15-percent increase in revenue, rising from R41.88 billion ($2.20 billion) to R48.15 billion ($2.53 billion).
Headline earnings also saw a notable 8.65 percent boost, reaching R7.06 billion ($370.88 million) from R6.49 billion ($341.34 million) in 2022. However, total assets experienced a modest decline of 3.66 percent, moving from R156.70 billion ($8.24 billion) in 2022 to R150.96 billion ($7.94 billion) by the close of 2023.
In addition to his executive and governance roles, Durand holds a 0.17-percent stake in Remgro Limited, possessing 882,050 shares valued at R134.85 million ($7.08 million). This underscores his alignment with the company’s ongoing success, highlighting both his strategic leadership and financial commitment.
