SA’s Telkom Boss Gets R25.9 million for Turning Around Ailing Telco

Jabu Mabuza was paid R1.3 million for his services as a charmain.

Telkom boss Sipho Maseko was paid R25.9 million in the 2017 financial year as South Africa’s largest fixed-line telephone group reported a 3.9 billion in profit versus R2.3 billion in the same period last year.

Telkom Boss Sipho Maseko
Telkom Boss Sipho Maseko (Photo Credit: Telkom Annual Report)

As part of his total remuneration, Maseko’s guaranteed package was R7.4 million and was also rewarded with R8.8 million in short-term incentives and also gained R9.6 million in long term incentives or vested shares).

While Deon Fredericks, Telkom’s chief financial officer, was paid R13.5 million in total remuneration, which consists of a R5.3 million guaranteed package and R4.3 million in short-term incentives plus R3.8 million in long-term incentives.

Maseko is credited with Fredericks and Telkom’s chairman Jabu Mabuza for turning around the telco from its cash guzzling days into a profitable entity that is reshaping itself to be a digital company.

For more on Maseko’s achievement read: SA’s Telkom CEO Sipho Maseko isn’t declaring victory yet, but he is targeting pole position

Mabuza was paid R1.3 million for his services as a Charmain.

Telkom Prescribed officers’ remuneration+ (excluding executive directors)

 

 

LEAVE A REPLY