Johan Enslin Lewis Group CEO Remuneration Increase South Africa

• Lewis Group granted its CEO, Johan Enslin, a 12.3% increase in his total guaranteed pay, effective April 2025.
• The Remco's decision was made after an independent benchmarking survey found that Enslin's fixed remuneration was below the 25th percentile of the peer group.
• Enslin received R8.715 million in total guaranteed pay and R58.9 million in total remuneration in the 2026 financial year.
• The Lewis Group's disclosure of non-executive directors fees and the remuneration gap ratio between its top and bottom 5% staff members is now required under Section 30B of the Companies Act, following amendments that came into effect on May 22, 2026.

The Remco decided to align the CEO's total guaranteed pay over several years instead of granting a one-time increase of 23%, as recommended by the independent benchmarking survey.

Lewis Group, a listed furniture retailer, has granted its CEO, Johan Enslin, a 12.3% increase in his total guaranteed pay, effective April 2025. This decision was made after an independent benchmarking survey found that Enslin's fixed remuneration was below the 25th percentile of the peer group. The survey recommended a one-time increase of 23%, but the Remco decided to align the CEO's total guaranteed pay over several years instead. In the 2026 financial year, Enslin received R8.715 million in total guaranteed pay and R58.9 million in total remuneration, which was 70% greater than the previous year. The bulk of his total remuneration came from share awards under the executive retention scheme.

The Lewis Group's decision to grant a 12.3% increase in the CEO's total guaranteed pay may set a precedent for similar adjustments in the future. Lawyers advising listed companies on executive remuneration should note this development, as it could influence their own compensation decisions. The Remco's discretion in granting the increase is also noteworthy, as it highlights the flexibility of South African corporate law when it comes to executive remuneration. Additionally, the group's disclosure of non-executive directors fees and the remuneration gap ratio between its top and bottom 5% staff members is now required under Section 30B of the Companies Act, following amendments that came into effect on May 22, 2026.

The Lewis Group's decision to grant a significant increase in the CEO's total guaranteed pay has implications for executive retention and compensation practices in South Africa. The group's performance over the last five years, with a share price increase of 114% and dividend yield of 10.66%, suggests that its remuneration strategy is effective. However, the Remco's decision to grant an increase below the recommended level raises questions about the company's commitment to transparency and accountability. The disclosure of non-executive directors fees and the remuneration gap ratio also highlights the need for greater transparency in corporate governance practices.

Lawyers advising listed companies on executive remuneration should note that the Lewis Group's decision to grant a 12.3% increase in the CEO's total guaranteed pay, effective April 2025, may set a precedent for similar adjustments in the future.

Source: Original reporting via Lewis Group annual report