JB's Uechtritz tops up retirement kitty with $10.8m

Retiring JB Hi-FI CEO Richard Uechtritz has cashed up a third of his direct shareholding in the company, pocketing just under $10 million for 500,000 shares.

As previously reported by PIN Online, Uechtritz will step down from the top job in the middle of the year to pursue personal interests, including some philanthropic activities via his own foundation.

Uechtritz, a former director of Kodak (Australasia), was co-founder of Australia’s two photo chains, Rabbit Photo and Smith Kodak Express. He retains one million shares in JB Hi-Fi as well options over a further 622,000 shares.

Uechtritz’s successor, COO Terry Smart,  also has a significant investment in JB Hi-Fi with a personal holding of 1.5 million shares, worth around $30 million, plus nearly 400,000 options under a long-term incentive program.