Jannie Durand, CEO of Remgro Limited, a renowned investment holding company in Stellenbosch, South Africa, was paid R39.79 million ($2.09 million) at the end of the 2023 financial year.
This represents a remarkable 58.67 percent increase over the previous year’s sum of R25.08 million ($1.32 million), consistent with Remgro’s exceptional financial achievement in 2023.
Durand’s pay is R12.8 million ($0.67 million) with a short-term bonus of R0.44 million ($0.023 million). Furthermore, he received a long-term reward of R23.49 million ($1.23 million), highlighting Remgro’s great achievement this year.
Founded in the 1940s by Anton Rupert, Remgro has expanded its investment portfolio across nine platforms. The group owns assets in banking, financial services, packaging, glass goods, medical services, mining, petroleum, drinks, food, and personal care products.
Durand became Remgro’s CEO in May 2012. He now serves on the boards of RCL Foods Limited and OUTsurance Group Limited, and has a long history of doing so. His board memberships include Heineken Beverages Holdings Limited, Namibia Breweries Limited, and Mediclinic Group Limited. Durand formerly held several positions within the Group, including Chief Investment Officer, Financial Director, and CEO.
Durand’s leadership at Remgro has resulted in significant financial growth. In 2023, the company’s revenue increased by 15%, from R41.88 billion ($2.20 billion) to R48.15 billion ($2.53 billion).
Headline earnings also increased by 8.65 percent, to R7.06 billion ($370.88 million) from R6.49 billion ($341.34 million) in 2022. However, overall assets fell by 3.66 percent, from R156.70 billion ($8.24 billion) in 2022 to R150.96 billion ($7.94 billion) at the end of 2023.
In addition to his executive and governance duties, Durand owns 882,050 Remgro Limited shares worth R134.85 million ($7.08 million). This demonstrates his connection with the company’s continued success, emphasizing both his strategic leadership and financial commitment.
