Discovery CEO receives a triple bonus
Adrian Gore gets paid nearly R8.5 million in a tripled annual performance bonus.
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Discovery Holdings has rewarded its Chief Executive Officer with a huge annual performance bonus after profits climbed significantly last year.
Adrian Gore, who founded Discovery in 1992, was paid R8.46 million - three times this annual bonus.
The payment was a direct remuneration for Discovery Holdings seeing its profits increase by 42%.
Gore's basic salary is R2.3 million per year. He was also given a performance bonus of R4.67 million, as well as a 'phantom' bonus plan of R924,000.
The phantom bonus is linked to the group's share prices and is paid out several years after allocations are made.
The year before saw Gore earn R2.91 million in basic salary, a performance bonus of R1.56 million and a phantom pay of R51,000.
Discovery controls South Africa's biggest medical insurance group and has managed to acquire a massive customer base over the years.
In the past decade, net income has increased for Discovery every single year.
Groups that take out Discovery insurance for their workers include Rand Merchant Bank and Avusa Ltd.
Discovery continues to offer incentives such as gym programs to help their policyholders stay in good health.
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