Brief
Blu Label co‑CEOs earn R33 million each as pay gap widens
The integrated annual report shows the Levy brothers earned R33 million each, while the lowest‑paid permanent staff earned R77 400.
By Felo News Desk · Published
Blu Label Unlimited Group disclosed that its joint chief executives, brothers Brett and Mark Levy, each earned R33 million in total compensation for the financial year to May 2026. The figure represents a pay ratio of roughly 470 to 1 compared with the R77 400 earned by the lowest‑paid permanent employee, the company’s integrated annual report said.
What happened
The report, published on 1 October 2026, covers permanent employees who worked the full year and includes salaries, benefits and short‑ and long‑term incentives processed through payroll. The median employee earned R495 000, making the top earner’s pay about 74 times higher. The top 5 % of earners received 75.3 times as much as the bottom 5 %.
What the report adds
Each Levy’s package comprised R12.9 million in fixed pay, a short‑term bonus of R7.7 million, R11.7 million in shares from the 2023 long‑term incentive plan, and R681 000 in dividends on those shares. The short‑term incentives were paid at 60 % of fixed pay, below the 100 % target. Financial director Dean Suntup earned R18.7 million, a 9 % rise that included a one‑off R2.5 million bonus for work on the restructuring and listing of Cell C.
What was said
The integrated report did not contain direct quotations from the executives or the remuneration committee.
How it came about
The pay outcomes were reported against a backdrop of a reported loss for Blu Label, driven by accounting for Cell C’s separation and listing. Normalised earnings held up, allowing the group to resume dividend payments for the first time in eight years. The remuneration committee excluded Cell C’s earnings from bonus calculations, citing the difficulty of incorporating acquisition, restructuring and listing effects into the business plan.
Key facts
- Brett and Mark Levy each earned R33 million in total compensation for the 2026 financial year. (techcentral.co.za)
- The lowest‑paid permanent employee earned R77 400, creating a pay ratio of about 470 to 1. (techcentral.co.za)
- Median employee earnings were R495 000, making the top earner’s pay roughly 74 times higher. (techcentral.co.za)
- Financial director Dean Suntup earned R18.7 million, up 9 % and including a R2.5 million one‑off bonus. (techcentral.co.za)
Sources
- [1] techcentral.co.za — originally reported as “How Cell C shaped Blu Label's executive pay”
