In 2013 he was among the world’s top 400 richest people, and in 2017 had an estimated worth of about $66bn, according to Forbes. Pieter C Engelbrecht is CEO/Executive Director at Shoprite Holdings Ltd. See Pieter C Engelbrecht's compensation, career history, education, & memberships. 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By 1979, Pep Stores made its foray into the food retailing business with its acquisition of Shoprite, a small chain of retail outlets spread across South Africa. Basson led Shoprite from 1979 to 2016. January 2021 FGN Bond records oversubscription of N88.3 billion. Stock Market 2 hours ago. Love or hate him; former Shoprite CEO Whitey Basson is a retail genius. Shoprite CEO Pieter Engelbrecht. The Shoprite CEO Basson had a basic salary totaling to R49.6m in 2016. Shoprite Holdings announced at the company's Annual General Meeting held on 31 October 2016 that the company's Chief Executive Officer, Whitey Basson, decided to retire at the end of December 2016. Shoprite: Organization: Shoprite: Title: CEO: Term: 1971 to 2016: Successor: P.C. Shoprite's intention to divest from its Nigerian operations appears to be anchored on these factors. Bruce Whitfield interviews the remarkable Wiese (net worth R100 billion!) Last year, he voiced his thoughts in an opinion article in Ernst & Young’s 2011 Africa attractiveness survey: “I’m extremely positive about investment in Africa. “I believe I am good for another five to seven years,” he said last year during an interview with South Africa's Moneyweb. Going by the company’s most recent annual report published in June 2019, Shoprite values its equity in its Nigerian subsidiary at R 1.164 billion (1.1 billion rands). What advice would you give the CEO of Shoprite Store about how to improve it? Africa is awakening. Shoprite Holdings chief executive Pieter Engelbrecht’s total remuneration was R21.27m in 2019, up by 4.5percent compared with last year's R20.36m. That anecdote is reminiscent of South African billionaire Christo Wiese’s story. The average FTSE 100 company CEO is paid about 129 times more than the average employee. Insurance executives from all lines of business are waiting to see the full fallout of the pandemic, and next year’s Forbes Global 2000 insurance rankings may look very different. Wiese assumed the position of chairman in 1981, and in 1982 he led the company to change its name from Pep Stores to Pepkor Limited. Earnings: R50 million The Managing Director and Chief Executive of Shoprite Holdings Ltd, James Wellwood Basson also known as Whitey has obviously … Wiese has seen his own fair share of troubles, too. Wiese has been the engineer of all this growth, and has reaped some handsome financial dividends in the long run. The Supermarkets Non-RSA consists of retail operations under the Shoprite, Checkers, Checkers Hyper, Usave, and Hungry Lion brands outside of South Africa. Needless to say, it thrived- just like all the other previous stores across the continent. But in the initial stage of this position, Engelbrecht has lost a lot of … Brett Wing has been named president of ShopRite Supermarkets (SRS), a wholly owned subsidiary of Wakefern Food Corp., which operates 34 ShopRite stores, effective immediately. Shoprite Holdings Ltd. engages in the management of retail stores. The banking behemoth is followed by Berkshire Hathaway, Bank of America, Apple and AT&T. Africa has a wonderful climate, wonderful people and amazing possibilities. Shoprite CEO scoops R50m performance bonus. Contact Us. Become a Shareholder. The Furniture segment involves in the retail operations. Tesla CEO Elon Musk's net worth has reached $115 billion, making him the third-richest person in the world. Use Forbes logos and quotes in your marketing. Global 2000 Highlights: Inside The Numbers Of The World’s Largest Public Companies, The World’s Largest Food And Restaurant Companies In 2020, America’s Largest Public Companies In 2020: JPMorgan Chase Leads For The Second Year In A Row. What is it worth on paper? Average market values and profits dropped but China continued to catch up to the U.S., and high profile companies including Zoom and Slack broke into the ranks for the first time. Sources: Factset, Bloomberg, S&P Cap IQ; Forbes. In the UK, CEOs are under scrutiny, with questions over whether their remuneration is worth it when you look at the value they add. Subsequently, Pepkor listed its clothing interests on the JSE as Pep Limited and its food interests as Shoprite Holdings Limited. web search. He was paid up to a total of R100.1m when the one-time R50m bonus on performance was added. LPGA Tour pro Mika Miyazato , a Japanese nationwide, is best referred to as the 2004’sJapan Amateur Championship winner (won… His combined interests in Pepkor and Shoprite- the continent’s largest retailer are currently worth $2.4 billion. You may opt-out by. This is also an equivalent of $67.7 million. There were no clothes shops in the country, and a colleague from Pep Stores with whom he had made the trip told him, “You know, we can’t come and open shops here because people prefer to buy  their clothes from hawkers,” Wiese recalled during an interview with South Africa's Leadership magazine. When Wiese went to Zambia in the early 1990s to open up a clothing store, he discovered that clothing was sold on the street pavement by hawkers. Former billionaire Christo Wiese will step down as chairman of Shoprite, Africa’s largest grocer, next year, according to a statement issued by the company. Follow me on Twitter @MfonobongNsehe, © 2021 Forbes Media LLC. All Rights Reserved. He is widely acknowledged as one of the richest men in Africa today. msn news. Christoffel Wiese is also a CEO but a Non-Executive one. Shoprite CEO’s dilemma: How much change is enough? South African billionaire Christo Wiese owes the South African Revenue Service $245 million, or R2billion in unpaid taxes, reports state-owned South African Broadcasting Corp. Christo Wiese is the brain behind Shoprite, Africa’s most storied retail chain. Supply Chain Management. Global Trade Solution. The company was founded in 1979 and is headquartered in Brackenfell, South Africa. Today, Pepkor is a renowned South Africa-based retail investment holding company with stores in 10 countries in Africa, as well as operations in Australia and Poland. Shoprite Holdings CEO Pieter Engelbrecht has joined the group’s nomination committee to provide certainty for management as the board battles to find a replacement for Christo Wiese. While the CEO of 37 years is long departed, the chair, Christo Wiese, is clinging to the position. play_arrow. (Photo: Halden Krog / Bloomberg via Getty Images) One of the few constants in life is change — except at Shoprite, it would seem. The Supermarkets RSA segment includes retail operations under the Shoprite, Checkers, Checkers Hyper, and Liquor Shop stores in South Africa. Answer See 8 answers. A British judge ordered that the money be seized on the suspicion that it was the proceeds of crime, but according to the Daily Mail, Wiese and his lawyers have explained that the money was part of profits from diamond deals in South Africa in the 80s and 90s and had been kept in a safety deposit box in the Ritz hotel because of foreign exchange restrictions in his homeland. Pieter Engelbrecht is the Chief Executive Officer (CEO) of Shoprite Holdings. It’s a huge market of almost a billion people with huge resources and a young population. Business aside, Wiese has been one of Africa’s most vocal economic optimists. Our Directors. Skip to Navigation; Skip to Content; Skip to footer; Sign in. Gradually, Whitey Basson 2010 earnings … He acquired Ackermans, a clothing chain, in 1986. The group owns a diverse portfolio of retail outlets centered on the low-price market, primarily selling textiles, clothing and footwear. Christo Wiese’s fortune fell by a whopping $3 billion in just two days after retail conglomerate Steinhoff Holdings announced its CEO had resigned due to accounting irregularities. Wendy Lucas-Bull (67) Chairman. ShopRite originated in 1946, when a Del Monte Foods sales representative talked to independent grocers in Newark, New Jersey.The grocers were having problems getting reasonable prices for wholesale goods. If you were in charge, what would you do to make Shoprite Store a better place to work? Franchise Opportunities. America's Top Givers: The 25 Most Philanthropic Billionaires, EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Forbes Global 2000 Shows Nothing Can Stop Russia’s Oil Beasts, Forbes Global 2000: Pandemic Will Roil The Insurance Sector, Former Billionaire Christo Wiese To Step Down From Shoprite Next Year, South African Retail Tycoon Loses Billionaire Status Amid Accounting Crisis, Billionaire's Daughter Buys $7 Million Mansion In Cape Town, South Africa, The Biggest African Billionaire Gainers Of 2015. Africa has been called dark and hopeless, but today it is neither of these. Dr Anna Mokgokong (63) Johan Basson (69) Alice le Roux (46) Joseph Rock (51) × NON … No one-time payments at least for five fiscal years Shoprite CEO Basson had a basic salary totaling to R49.6m 2016. Almost 28,000 people him down the ranks of the highest average volume per store supermarket chains in long. 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