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BusinessLive reports that Telkom paid about R36m less to executives in the 2018 financial year, though CEO Sipho Maseko received 5% more.
Remuneration for the executive management team totalled R164m in the year to March, according to the annual report released on Tuesday. This was primarily due to a drop in the number of the group’s executive directors in the period, to 43 from 47 in the 2017 financial year. Maseko’s total package grew to R27.2m from R25.9m in 2017. His remuneration included an R8m guaranteed package and R11.5m in vested shares. During the period, the overall head count shrank by 3%, even as employee expenses rose 6%. The group managed some impressive growth in mobile and data revenue, but this was offset by the continued fall in revenue from traditional fixed voice lines.
- Read this report by Karl Gernetzky in full at BusinessLive
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