According to the group's latest remuneration report, Shoprite CEO Peter Engelbrecht earned approximately 184,000% more than the lowest-paid staff member in the South African retail chain during the 2026 financial year.
Engelbrecht's total compensation increased by 35.4%, reaching 117.8 million rand from 87 million rand the previous year. Meanwhile, the annual compensation for the lowest-paid employee was about 64,000 rand, compared to 61,000 rand in 2025. This means that the CEO's compensation package is approximately 1,841 times higher than the annual pay of the lowest-ranking general assistant at Shoprite.
This comparison comes as South Africa's largest private sector employer prepares to seek shareholder approval for a new executive incentive scheme designed to retain the CEO and support the group's long-term strategy.
However, it should be noted that the 117.8 million rand figure does not reflect the cash paid to Engelbrecht during the year. Shoprite distinguishes between total earned remuneration, which includes bonuses earned but payable in future years, and total remuneration paid for the reporting period.
Based on actual payments, Engelbrecht received 72.8 million rand, up from 72.2 million rand in 2025. This is approximately 1,138 times the annual compensation of the lowest-paid employee. A significant portion of the higher earned package for the CEO is attributed to shares, including a reward of 36.4 million rand under the Executive Super Stretch Incentive scheme. This reward is linked to a three-year performance period ending in June 2026 and is scheduled to be paid in three tranches between October 2026 and October 2028.
Engelbrecht's package also included 21.1 million rand in salary, 21.3 million rand in short-term incentives, 18.2 million rand from vesting under the Executive Share Plan, and 17 million rand in deferred incentives. His total guaranteed remuneration, including salary and benefits, amounted to 22 million rand. CFO Anton de Bruyn increased his total earned remuneration from 35.3 million to 46.7 million rand, including 14.2 million rand under the same one-off incentive scheme.