Isaac Mophatlane, the CEO of BCX who left the technology company in May 2017, received R11.7 million in total remuneration, according to Telkom’s latest annual report.
As part of the package, Mophatlane’s remuneration was R5.8 million and received R5.3 million in incentive bonus plus R520 000 in fringe and other benefits.
According to the Telkom report, he was not granted any long-term incentives such as shares in the telco.
The departure of Mophatlane was condemned by South Africa’s Black Business Council (BBC).
At the time, in a statement, BBC said it “believes (Mophatlane) was forced out”.
Mophatlane and his late twin brother founded 38 years ago.
“There’s no magic solution to avoid the hurt feelings, the tension, the discomfort this development has caused among our members. This is an attack on black excellence,” BBC Chairman Sello Rasethaba, said at the time.
In June, however, Maseko dismissed concerns that his company is attacking black excellence, saying the departure of BCX CEO Isaac Mophatlane had nothing to do with race.
Maseko has dismissed the concerns raised by the BBC, saying in an interview with CNBC Africa that his company does not attack black excellence, or anybody else.
“The departure of Isaac is unrelated to the acquisition of BCX by Telkom. He has reached a point where he needed to do other things,” said Maseko.
He said Mophatlane left BCX as a friend, and that he is always welcome to “come back to work at Telkom”.
For more read: Isaac Mophatlane left BCX as a friend – Telkom CEO