.png)
Choppies Enterprises paid P4.96 million to its non-executive directors in the financial year ended June 2026, down from P5.42 million in the previous year, as the retailer reduced its overall board remuneration expenditure.
The total represents a decline of approximately 8.5% year on year. The figures include fees paid to directors for their roles at the parent company, as well as P334,000 paid to Valentine Chitalu for serving as chairman of Choppies’ Zambian subsidiary.
Choppies’ remuneration framework combines annual retainers with sitting fees for board and committee meetings. The board chairman receives an annual retainer of P660,000, while the chairpersons of the Audit and Risk Committee and the Remuneration and Human Resources Committee receive P500,000. The Investment Committee chairperson receives P360,000, while other board members receive P300,000.
Directors also receive P33,333 for each board or committee meeting attended. The company says its fee structure is reviewed against public surveys and internal benchmarks, taking into account the responsibilities, complexity and additional services required of directors.
Non-executive directors are not eligible for share options or variable-pay incentive schemes, a measure the company says is intended to preserve their independence. Choppies has proposed no increase in non-executive directors’ fees for the 2027 financial year.
Ranjith Priyalal De Silva: P1,033,000
De Silva received P1.03 million in FY2026, compared with P1.13 million in the previous year, a decrease of approximately 8.8%. His remuneration included a P500,000 retainer, P233,000 in board sitting fees and additional payments for his participation in the Audit and Risk, Investment, Remuneration and Human Resources, and Environmental, Social and Governance committees.
Appointed to the board in May 2023, De Silva chairs Choppies’ Remuneration and Human Resources Committee. He holds ACMA and FCA qualifications from the United Kingdom, as well as FCA qualifications from Botswana and Sri Lanka.
Choppies identifies his professional audit and advisory experience, alongside his board, audit committee and risk management committee experience, as key skills he brings to the business.
Don Kumaray Uttum Corea: P960,000
Corea received P960,000 in FY2026, down from P1.06 million in the previous year, representing a decrease of approximately 9.4%.
As board chairman, his remuneration comprised a P660,000 annual retainer, P233,000 in sitting fees and P67,000 for his participation in the Environmental, Social and Governance Committee.
Corea was appointed to the board on 11 September 2019. He holds FCA qualifications from Sri Lanka and Botswana, as well as a PIAM qualification from Harvard.
Choppies describes his contribution to the board as drawing on strategic leadership experience across the private sector and national government, supported by professional, board, conservation and vocational expertise.
Valentine Chitalu: P833,000 From Choppies, Plus P334,000 From Its Zambian Subsidiary
Chitalu received P833,000 for his role at Choppies’ parent company in FY2026, down from P933,000 in the previous year. He also received P334,000 as chairman of the company’s Zambian subsidiary, bringing his combined remuneration to P1.17 million.
His total remuneration across the two roles declined from P1.28 million in FY2025.
Chitalu joined Choppies’ board in August 2021. He holds FCCA and MPhil qualifications from the United Kingdom, as well as a BACC qualification from Zambia.
The company describes him as an accomplished entrepreneur and private equity professional with extensive board experience and specialised expertise in privatisation initiatives.
Carol-Jean Harward: P827,000
Harward received P827,000 in FY2026, compared with P960,000 in the previous year, a decrease of approximately 13.9%.
Her remuneration included a P360,000 retainer and P233,000 in sitting fees. She also received fees for serving on the Audit and Risk, Investment, and Remuneration and Human Resources committees.
Harward was appointed to the board in September 2019. She holds BFIN, MBA and CIIA qualifications.
Choppies identifies her experience in global institutions, multinational banking and asset management as central to her contribution to the board. Her background also includes human resources and board expertise, as well as experience founding a women-owned and led enterprise.
Farouk Ismail: P533,000
Ismail received P533,000 in FY2026, down from P633,000 in the previous year, representing a decline of approximately 15.8%.
His remuneration consisted of a P300,000 annual retainer and P233,000 in board sitting fees.
Ismail was appointed to the board in 2004 and serves as deputy chairman. He is one of the longest-serving members of the board.
Choppies identifies his entrepreneurship and leadership experience, alongside his expertise in retail management, board governance and vocational development, as the skills he brings to the company.
Natalie Graaff: P438,000
Graaff received P438,000 in FY2026, compared with P186,000 in the previous year. The increase reflects the fact that she joined the board partway through the 2025 financial year, having been appointed on 20 January 2025.
Her FY2026 remuneration comprised a P205,000 retainer and P233,000 in sitting fees.
Graaff holds a BCom in Law and an LLB. Choppies describes her as an experienced legal professional with expertise in commercial law and providing strategic legal advisory services to private-sector clients.