Business Report writes that telecoms company Telkom paid group chief executive Sipho Maseko 14.7% less pay in the year ended March 2019 compared to a year earlier, as fewer shares were vested to him in the year under review.  

Maseko’s total pay cheque was R23.17m in the 2019 financial year, including an R8.9m guaranteed package, and a short incentive of R7m.  Dividends paid in unvested shares amounted to R2.5m, the company indicated in its 2019 Integrated Report released on Friday.  Maseko’s total remuneration stood at an R27.19m in the year ended March 2018, which included R8m of guaranteed pay, and R7.5m in short-term incentives.  Telkom rewarded Maseko with R11.5m in vested shares in 2018.  Telkom reported that it paid Deon Fredericks, the chief financial officer who stepped down at the end of June, R4.7m and R5.8m.  Frederick’s successor, Tsholofelo Molefe, was paid R6.4m in the 2019 financial year and R1.82m for her previous role as deputy chief financial officer, taking her total to R7.8m.  The company paid its prescribed officers R63m.  Telkom chairperson Jabu Mabuza, who stepped down at the end of May, said that the year to March 2019 was tough.  However, Maseko, who has been chief executive since April 2013 commented that the company was reaping the fruits of new revenue streams.

• Read the full original of Dineo Faku’s report on the above at Business Report

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