Continuing our series on CEOs who have made serious money out of shares and options, we cannot but focus on Woolworths boss Roger “Crusher” Corbett who is today sitting on shares and options with a market value of $83 million.
Is there anything that can stop Woolworths? Shares leapt 54c yesterday and a further 33c to a new record of $15.89 today after half year profit rose 13.7% to $452.2 million.
The WA trading hours set-back was ignored as forecast liquor sales was lifted from $2.5 billion to $3.5 billion. By way of comparison, a combined Foster’s-Southcorp would be the world’s biggest wine company with sales of $2.6 billion.
Woolies has 37 percent of Australia’s $66 billion food and takeaway liquor market and Coles Myer has 32 per cent. Both are enjoying rising market share so the question remains: how much is too much for this powerful duopoly?
Roger Corbett currently owns 3.34 million Woolworths shares and after today rise these are worth $53 million. Throw in the additional 2 million options approved at the last AGM and Roger’s 5.34 million shares and options have a market value of $85 million, more than $30 million of which is clear profit.
This puts Roger in the same league as the Big Four Bank CEOs, who average profits of about $30 million on a $100 million equity play.
Not bad if you can it, folks.