Cell C reveals how much money former CEO earned
Former Cell C CEO Alan Knott-Craig received a total salary package of R17.3 million in 2013, which increased to R29.2 million in 2014.
Knott-Craig join Cell C and its board of directors on 1 April 2012, and was tasked with turning the company around.
In November 2013, Knott-Craig suffered a stroke – after which Jose Dos Santos took command at the operator.
Cell C chairman Mohammed Hariri said in May 2014 that “Alan has made a remarkable recovery, and has officially been back at the company since 5 May 2014”.
Cell C director salaries
The table below shows the total director remuneration over the last three years.
| Cell C Directors’ and Prescribed Officers’ Emoluments | ||||
| 2013 | ||||
| Person | Position | Basic Salary | Bonuses | Total Pay Package |
| Alan Knott-Craig | CEO | R8,000,000 | R9,300,000 | R17,300,000 |
| IE Pierce | Non–executive director | R338,000 | – | R338,000 |
| 2014 | ||||
| Alan Knott-Craig | CEO | R9,167,000 | R20,000,000 | R29,167,000 |
| Y Mahomed | Non–executive director | R347,000 | R840,000 | R1,187,000 |
| 2015 | ||||
| JA Boggenpoel | Non–executive director | R600,000 | – | R600,000 |
Cell C’s financial results are contained in a circular published by Blue Label Telecoms on Tuesday.
The pay of its current CEO, Jose Dod Santos were not revealed.
By way of comparison, Vodacom’s annual report for the year ended 31 March 2016, showed that CEO Shameel Joosub was paid R21.8 million for the past financial year.
Joosub’s total pay package included a guaranteed salary of R7.825 million and a short-term incentive of R13.97 million.
Similarly, Telkom’s integrated report showed that Group CEO Sipho Maseko earned R14.51 million in the financial year ended 2016, up more than R2 million from 2015, when he picked up R12.3 million.
The chief executive earned a guaranteed package of R7.44 million, and an additional short term incentive pay of R6.13 million.
And in April, MTN revealed that its former CEO, Sifiso Dabengwa, scored a R40 million salary in 2015, including R23.7 million ‘compensation for loss of office’, despite a massive fine imposed on the group in Nigeria last year under his watch.
Research published earlier in the year found that the average salary for a CEO of listed company in South Africa was R5.3 million – shooting up to R9 million when bonuses and incentives are included.
A report by Moneyweb in February, looked at the basic and total salaries of over 730 executive directors from 329 listed companies on the JSE.
All data was sourced from annual reports, and Statistics SA’s Quarterly Employment Survey for the second quarter of 2015.
It found the following:
- The average executive in South Africa earns a basic salary of R4 million, jumping to R7 million with short and long-term incentives included.
- Chief executives earn an average basic salary of R5.3 million, jumping to R9 million with incentives included.
Financial services company, PwC, found that the median total guaranteed pay (TGP) among CEOs on the JSE in 2014 was R4.13 million.
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