Telkom CEO Sipho Maseko scores R27 million payday
Telkom has published its integrated report for the 2018
financial year, revealing what the telco group paid its top
executives.
According to the report, Telkom CEO Sipho Maseko was paid a
total package of R27.2 million for the 2018 financial year,
comprising a basic salary of R8.05 million, a short-term
incentive bonus of R7.58 million and a long-term incentive
bonus of R11.56 million.
Former CFO, and new CIO Deon Fredericks scored a total pay of
R13.6 million for the period, taking the total pay to the top
two executives to R40.8 million.
Telkom paid a further R113.2 million to 10 prescribed officers,
including those who have since left the company, and those who
have moved up the ranks.
Deputy CFO Tsholofelo Molefe, who has been appointed as
the new CFO of the group, was paid R7.2 million, while retired
chief information officer (CIO) Len de Villiers earned R14.3
million.
Other executives who have parted ways with the company – Brian
Armstrong and Attila Vitai – were also paid handsomely, taking
R13.6 million and R24.3 million, respectively.
The tables below outline the executive pay:
In May, Telkom reported a 6.55% drop in operating profit for
the year ended March 2018, to R4.939 billion, with revenue flat
at R41.018 billion.
The group reported a 19.2% decrease in profit after tax to
R3.158 billion. This, it said, was mainly attributable to an
increase in the taxation expense and a 3.6% decrease on
earnings before interest, taxation, depreciation and
amortisation (EBITDA) of R10.544 million
This resulted in an 18.4% decrease in headline earnings per
share (HEPS) to 597 cents.
Mobile growth was strong, with consumer revenue up 5.9%,
driven by a 47.2% growth in mobile service revenue for the year
ended March 2018. The growth in the mobile business was
supported by 30.2% growth to 5.2 million subscribers, with the
blended average revenue per user (ARPU) increasing by 10.2% to
R98, Telkom said.
Read: Naspers boss scores massive R164 million
payday
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