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BusinessLive reports that in the face of declining premium subscribers in SA and retrenchments at the company, the four top executives at pay-TV provider MultiChoice earned a total of R54.5m in salaries.
The firm’s first annual report as a listed company revealed that CEO Calvo Mawela was paid R10.6m and CFO Tim Jacobs received R8.4m. The lion’s share went to executive chair Imtiaz Patel and chief operations officer Brand de Villiers, who earned $1.46m (R20.73m) and $1.02m (R14.74m) respectively. These amounts included base salary, pension, benefits and short-term incentives. They did not take into account share options, so total compensation could be much higher. MultiChoice has started a retrenchment process that could result in up to 2,194 employees losing their jobs at its customer service operations. The company has said changes in the customer service model were in response to evolving customer behaviour as subscribers opt for digital platforms instead of telephone or walk-in services.
- Read the full original of the above report by Mudiwa Gavaza at BusinessLive
- Read too, MultiChoice pays total of R54.38m to four directors, on page 19 of Business Report of 1 August 2019
Get other news reports at the SA Labour News home page