Adapt IT CEO Sbu Shabalala Takes Home R3.6m

“Adapt IT has been consolidated in the Johannesburg campus for 16 months and is already experiencing an immensely positive employee engagement across the organisation.”

Sbu Shabalala
Sbu Shabalala. Image source: Twitter

The CEO of JSE-listed software services firm Adapt IT took home R3.66 million for the financial year ended 30 June 2019.

As part of the package, Sbu Shabalala received R1.17 million in bonus and performance-related payments.

In 2018, Shabalala was paid R2.7 million, plus R1.7 million in bonus and performance-related payments.

While Tiffany Dunsdon, Adapt IT’s commercial director and MD of international operations, received R2.9 million plus R697 000 in bonus and performance-related payments. In 2018, her total package was R2.3 million.

Nombali Mbambo, Adapt IT CFO, was paid R2.5 million for the financial year ended 30 June versus R1.9 million in 2018.

The JSE-listed company today reported a 6% drop in headline earnings per share (HEPS) from continuing operations to 57 cents for the year ended 30 June 2019.

The JSE-listed services group also announced on Monday it has deferred a dividend decision until after the 31 December 2019 interim reporting date to reduce the net gearing ratio in the short-term.

For more read: Adapt IT Profits Fall, Defer Dividend

 

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