State-owned company salaries – these are the 10 best paid executives
The Sunday Times has published its rich-list for 2016 which includes the remuneration of the top executives working at South Africa’s state-owned enterprises.
Former Telkom chief financial officer Jacques Schindehütte tops the list despite last working for the company in October, 2013. Schindehütte was suspended by Telkom, and following a lengthy investigation, he subsequently resigned, but not before picking up a salary of R6.6 million and additional benefits of R12.2 million.
Overall, Schindehütte was paid R18.8 million in Telkom’s 2015 financial year.
The Rich List research was compiled by Who Owns Whom for Business Times.
The remuneration reflects the earnings disclosed in the associated annual reports and results for the 2015 financial year.
Former Eskom CEO, Brian Molefe, is second on the list, followed by current Telkom CEO, Sipho Maseko.
Molefe announced last month that he would voluntarily step down from his position at the energy firm at the end of 2016, in the wake of allegations contained in the Public Protector report into alleged state capture.
Top 10 highest paid SEO executives in SA:
| # | Executive | Company | Position | Total pay |
|---|---|---|---|---|
| 1 | Jacques Schindehutte | Telkom | CFO | R18.78m |
| 2 | Brian Molefe | Eskom | CEO | R13.13m |
| 3 | Sipho Maseko | Telkom | CEO | R12.3m |
| 4 | Mvuleni Qhena | Industrial Development Corporation | CEO | R9.87m |
| 5 | Patrick Dlamini | Development Bank of Southern Africa | CEO | R9.54m |
| 6 | Deon Fredericks | Telkom | CFO | R8.68m |
| 7 | Daniel Matjila | Public Investment Corporation | CEO | R7.93m |
| 8 | Shokie Bopape | Council for Mineral Technology | GM – Corporate Services | R6.3m |
| 9 | Riaz Saloojee | Denel | CEO | R6.27m |
| 10 | Sibusiso Sibisi | Council for Scientific and Industrial Research | CEO | R5.98m |
Read: These are the richest businessmen in South Africa
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