Lewis says its CEO should be paid 23% more
But its remuneration committee decides this should be phased in over a number of years
Lewis Group, a listed furniture retailer, has announced a 23% increase in the total guaranteed pay (TGP) for its CEO, Johan Enslin, following an independent benchmarking survey. The survey, conducted by REM Solutions, found that Enslin's remuneration was below the 25th percentile of his peer group, a group mainly comprised of listed retail companies. As a result, Lewis Group's remuneration committee (Remco) decided to grant an increase of 23% to Enslin's TGP, effective 1 April 2025.
Enslin received a total of R8.715 million in total guaranteed pay for the 2026 financial year. In addition to this, he earned R35.4 million in share awards under Lewis Group's executive retention scheme, with a portion of the shares vesting in July 2025. The remaining portion of his total remuneration was a cash performance bonus of R14.7 million, which was 70% higher than the 2025 amount of R34.6 million.
This increase in his remuneration was attributed to Lewis Group's exceeding of its profit before taxation target by 10.2% in 2025, which qualified Enslin for maximum cash bonuses under the scheme's rules.
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