SA’s Telkom paid CEO Sipho Maseko R14.5 million for its 2016 financial year, showing the progress the boss of the telco has made in turning around the country’s biggest fixed-line telephone group. By Gugu Lourie
The total package include a guaranteed salary of R7.4 million, R6.2 million short-term incentives and R941 000 in fringe and other benefits. His total remuneration of R14.5 milion was increased by more than R2 million versus R12 million in 2015.
For more on Maseko’s achievement read: SA’s Telkom CEO Sipho Maseko isn’t declaring victory yet, but he is targeting pole position
While Deon Fredericks, Telkom’s chief financial officer, was paid a total package of R9.5 million in 2016 financial year
Since 31 March 2016 there have been changes in the beneficial interests of the executive directors. In terms of the Telkom Share Plan 161 627 and 64 685 shares vested for Maseko and Deon Fredericks, respectively. On 4 July 2016 Sipho Maseko disposed of 145 907 shares. On 5 July 2016 Sipho Maseko and Deon Fredericks disposed of 15 720 and 25 581 shares, respectively.
Telkom Prescribed officers’ remuneration+ (excluding executive directors)
Jabu Mabuza, Telkom’s chairman said: “After three tough years, during which a great deal of hard work went into stabilising Telkom and building the potential that would prepare it for the next phase in our strategy, I am particularly pleased to report that we are ready to move into the transformation and growth phase of the strategy approved by the board three years ago.”