Live Roundups Editor's Desk Insights Executive Ops Weather About 🔍
Home › Business & Finance › Shoprite CEO Pay Plan Meets Resistance From Proxy Advisers
Business & Finance

Shoprite CEO Pay Plan Meets Resistance From Proxy Advisers

Bloomberg Markets Tuesday 03 November 2026, 05:00 UTC By Antony Sguazzin, Janice Kew and Bradley August 1 min read
Key Points

EXCLUSIVE Shoprite CEO Pay Plan Meets Resistance From Proxy Advisers Investors in South African equities face an early test of their new power to cast binding votes over pay when Shoprite Holdings Ltd. asks shareholders to approve another multimillion-rand incentive plan for its chief executive officer. The world’s two-biggest shareholder proxy adviser services, Institutional Shareholder Services and Glass Lewis & Co., are urging investors in Africa’s biggest supermarket retailer to reject...

EXCLUSIVE Shoprite CEO Pay Plan Meets Resistance From Proxy Advisers Investors in South African equities face an early test of their new power to cast binding votes over pay when Shoprite Holdings Ltd. asks shareholders to approve another multimillion-rand incentive plan for its chief executive officer. The world’s two-biggest shareholder proxy adviser services, Institutional Shareholder Services and Glass Lewis & Co., are urging investors in Africa’s biggest supermarket retailer to reject the new plan for CEO Pieter Engelbrecht at its Nov. 6 annual general meeting, questioning the repeated use of exceptional awards on top of Shoprite’s existing incentive programs. And some of North America’s biggest investors have said they will take their advice.
Shoprite (ORG) South African (ORG) Shoprite Holdings Ltd. (ORG) Institutional Shareholder Services (ORG) Glass Lewis & Co. (ORG) Africa (LOCATION) Pieter Engelbrecht (PERSON) North America’s (LOCATION)
Originally published by Bloomberg Markets Read original →

Related Stories

Saudi Aramco Profit Rises 9%

Nov 3rd, 2026 Saudi Aramco Profit Rises 9% Saudi Aramco posted a 9% increase in third-quarter profit following a jump in earnings from its refineries and as the Iran war drove oil prices higher. The company’s oil selling price was about 35% higher in the quarter from a year earlier. Bloomberg's Mitchell Ferman reports.

Bloomberg Markets 8m ago

Beyond five stars: 10 signs you’re staying in an ultra-luxury hotel, from house cars to turndown gifts

The five-star rating system can’t account for the personalised service offered at the very best hotels around the world. With no set definition of what constitutes a five-star hotel around the world, the experiences you have can wildly differ. Hotel groups tend to side-step this slightly by putting their brands into categories like “luxury”, “lifestyle”, or “premium”, but again, the standard might not be the same even comparing two properties in the same band.

Euronews 11m ago

Tough Christmas looms as rates and inflation hit household budgets

analysis Tough Christmas ahead as inflation, interest rates bite household budgets Bah, humbug! In a split decision, the nine members of Australia's Reserve Bank's board have decided to deliver Australia's highly-indebted households a fifth — but hopefully final — interest rate hike for 2026. The board will meet again on December 7 and 8, but any future hikes are more likely to be delivered in the new year.

ABC Australia 20m ago

Despair turns to hope for single mum on house hunting mission

Perth property price slump provides glimmer of hope for homebuyers In short: Home buyers are hopeful a drop in Perth property prices will help them break into the market. New data shows the city's median dwelling value has fallen to $942,018, but that is still 68 per cent higher than it was five years ago. What's next: A Perth realtor warns the optimism of those trying to buy a home may be premature, saying the figures do not represent the true state of the housing market.

ABC Australia 35m ago