In the 2023 financial year, Shoprite CEO Pieter Engelbrecht received a total pay package of R64.66 million, while Woolworths CEO Roy Bagattini earned a staggering R122.4 million in the same period, reports News24. This is despite the fact that Shoprite has a much larger footprint in terms of stores than Woolworths. Market analysts say that a host of factors are considered when setting CEO pay packages, including share price performance. Both Woolworths and Shoprite have delivered strong results of late, so it is likely that shareholders are not unhappy with the big paydays for the CEOs. However, some people have criticised the pay packages, saying that they are too high. They argue that the CEOs are already well-paid and that the money could be better spent on other things, such as employee salaries or investing in the companies' businesses.