Compagnie Financi\u00e8re Richemont SA paid its three top executives the equivalent of more than R437 million in compensation over its past financial year.<\/p>\n
The company reported a profit of \u20ac2.227 billion\u00a0(R38.6 billion) for the year ended 31 March 2016, on the back of \u20ac11.076 billion in sales. It reported an operating profit of \u20ac2.061 billion.<\/p>\n
The Switzerland-based luxury goods holding company was founded in 1988 by South African businessman Johann Rupert by the spin-off of the international assets owned by Rembrandt Group (now Remgro).<\/p>\n
Joint CEOs Bernard Fornas, who retired from the luxury goods company at the end of March, and Richard Lepeu, scored a total package of\u00a0 CHF 9 700 720 (R152.3 million) and CHF 9 677 172 (R151.9 million).<\/p>\n
Read: South Africa\u2019s best paid bosses<\/a><\/strong><\/p>\n The group’s chief financial operator, Gary Saage, picked up CHF 8 500 572 (R133.4 million) for a combined total of CHF 27 878 464 (R437.5 million)<\/p>\n South Africa’s richest man, Rupert, who is chairman of the board at the Swiss group received an annual compensation of \u20ac3.0 million (equivalent to CHF 3.2 million, split between salary and pension contributions.<\/p>\n At current exchange rates, his salary was the equivalent of R50 million.<\/p>\n The executive team at Compagnie Financi\u00e8re Richemont SA\u00a0 often sit top of the Sunday Times rich list.<\/p>\nSenior Executive Committee Pay<\/h3>\n