MTN Paid CEO Rob Shuter R40 million, Chair Phuthuma Nhleko Gets R42 million

The company prescribed officers took home more than R150 million.

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MTN Store (Delareyville Sellular)
MTN Store (Delareyville Sellular) (Photo Credit: Wiki Village)

Africa and Middle biggest cellphone operator MTN’s CEO Rob Shuter received R40 million in compensation during the financial year ended-December 2017 and the company’s outgoing chairman Phuthuma Nhleko was paid R42 million.

MTN made the disclosure as part of the company’s annual report that was posted on its website this afternoon.

Rob Shuter, MTN's CEO
Rob Shuter, MTN’s CEO (Photo Credit: African Business Magazine)

The company’s CFO Ralph Mupita took home a cool R18 million.

Shuter, who was appointed at MTN since March 2017, received a R17 million bonus and Nhleko’s bonus was R22 million tied on thedelivery, to differing degrees, on BRIGHT.

Nhleko’s R19.9 million salary was paid to Captrust Investments.

Phuthuma Nhleko, MTN Executive Chairman
Phuthuma Nhleko, MTN Executive Chairman (Photo Credit: BizNis Africa)

Nhleko would step down as chairman in December 2018.

The three top executives were paid more than R100 million by the cellphone operator.

The company prescribed officers took home more than R150 million.

 

With a market capitalisation of R257 billion at the end of 2017 we were the ninth largest
company listed on the Johannesburg Stock Exchange.

Also read: Can SA’s MTN be “Ignited” to Find its Winning Streak Again?

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