Woolworths executives invest R30 million in company shares, signalling confidence
Two Woolworths executives snap up R30 million in shares.
Image: Supplied
In a show of confidence, two Woolworths executives have purchased stock in the company worth more than R30 million.
The retailer disclosed to shareholders that Sam Ngumeni acquired 443 754 shares across Woolworths Proprietary Limited and Woolworths Holdings Limited.
Combined, these purchases came to R23.2m.
In the same announcement, Manie Maritz – who is the outgoing CEO of Woolworths Fashion, Beauty and Home (FBH) – bought R7.2m in shares.
In Woolworths' 2025 annual report, the company said that it is undertaking a leadership transition in FBH. This sees Nuholt Huisamen appointed as CEO of this business following Maritz’s early retirement.
This change, it said, was set to happen last month, although it still disclosed Maritz’s share purchase.
Maritz was appointed as MD of Woolworths Fashion, Beauty and Home in June 2020 before being appointed as CEO of that division following an internal restructure.
He has extensive retail experience across multiple merchandise categories and in various leadership roles, Woolworths says in its website.
Maritz commenced his career as a buyer in The Foschini Group (TFG) in 1993 where, other than for a period as Brand Manager for Polo and General Manager for LA Jeans, he remained until 2018.
His salary was not disclosed in the 2025 annual report, nor in 2024’s publication.
Ngumeni, CEO of Woolworths' Foods unit, has been with the company for 26 years and has held various positions, including as chief operating officer.
A member of the South African Rugby Executive Council, Ngumeni received a performance bonus in 2025.
This was calculated in terms of the short-term incentive plan as the Food division met the financial triggers for both the financial and strategic components.
Taking into account all elements of his package such as benefits, bonuses, and dividends and shares received as part of long-term incentives, Ngumeni earned R26m in the 2025 financial year, up from R21m last year.
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