Multichoice’s top bosses score R54 million payday
MultiChoice released its first integrated annual report, which revealed that the company’s executives received excellent pay packages over the last year.
MultiChoice Group listed on the JSE on 27 February 2019, with its share price starting at R95 when the market opened.
The MultiChoice share price currently sits at around R134 per share, which means the company has produced an excellent return for shareholders.
This strong performance is reflected in the remuneration of the company’s executives who received great salaries and bonuses.
MultiChoice’s executive chair Imtiaz Patel received a salary package of $1.463 million, which equates to around R21 million.
MultiChoice CEO Calvo Mawela received a salary package of R10.623 million, while the company’s CFO Tim Jacobs received R8.449 million.
It should be noted that these salary packages exclude share options, which further increase the real income of these executives.
The table below provides an overview of MultiChoice’s executive salaries for the past financial year.
| Executive | Salary (US$) | Salary (ZAR) |
|---|---|---|
| Imtiaz Patel (Executive chair) | $1.463 million | R20.722 million |
| Brand de Villiers (COO) | $1.020 million | R14.464 million |
| Calvo Mawela (CEO) | – | R10.623 million |
| Tom Jacobs (CFO) | – | R8.449 million |
| Total | R54.258 million |
Read: How much money Multichoice makes from each DStv subscriber
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