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South African executive Simon Crutchley earns $2.8 million in 2023

In 2023, Simon Crutchley, CEO of Sandton-based food and beverage firm AVI Limited, got a remuneration package of R54.39 million ($2.89 million) for his major contribution to the company’s remarkable financial performance.

This represents a huge increase of 62.4 percent over the previous year’s total salary of R33.49 million ($1.78 million), demonstrating Crutchley’s significant achievements and financial performance as CEO of the food and beverage industry.

Crutchley’s 2023 compensation package includes a base salary of R13.1 million ($0.7 million) and a performance-based short-term incentive of R36.94 million ($1.96 million). He also received a long-term incentive worth R2.69 million ($0.14 million).

AVI Limited, listed on the Johannesburg Stock Exchange, is home to South Africa’s leading brands in beverages, snacks, frozen foods, personal care, cosmetics, and fashion, with a portfolio of over 50 brands.

Crutchley, a co-founder of Otterbea International, was instrumental in founding this global trade company headquartered in South Africa. He became managing director of Consol Limited in 1997, and he successfully led the company’s transformation.

His tenure at AVI began in 1999 when he joined the board and progressed to the post of business development director in 2002. In October 2005, Crutchley accepted the post of Chief Executive Officer, driving AVI to ongoing growth and success.

Under Crutchley, AVI saw significant financial growth in 2023. Total assets climbed from R10.2 billion ($535.39 million) to R9.34 billion ($490.41 million). Revenue increased by 7.76 percent to R14.92 billion ($792.8 million) from R13.85 billion ($735.7 million).

In addition to his executive duties, Crutchley owns a 0.25 percent investment in AVI Limited, which equates to 840,201 ordinary shares valued at R72.96 million ($3.83 million), proving his unshakable dedication to the company’s future development.

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