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BusinessTech reports that MTN has released its integrated report for the year ended 31 December 2016, which shows that MTN Group’s executive chairman Phuthuma Nhleko was paid a R72.17 million salary for the 2016 financial year.
This was despite the group having posted its first-ever annual loss in its 22-year history. Nkhleko drew a salary as chairman, as well as for when he took over as executive chairman to guide MTN through its Nigeria crisis. His non-executive director salary came to R3.98 million and he drew a salary of R30 million for his role as executive director. He was further granted a R38.19 million bonus for the year, taking his total earnings as executive chairman to R68.19 million, and his total earnings to R72.17 million for the year. According to MTN, Nhleko was key to stabilising the company in the wake of the group’s Nigeria fine crisis, and his guidance led to the fine being reduced by R34 billion.
This report includes tables detailing what MTN’s executive directors, non-executive directors, and prescribed officers earned in 2016.
- Read this report in full at BusinessTech
- See too, The massive salaries of MTN’s executive directors, at MyBroadband
Get other news reports at the SA Labour News home page