Four executives at Allied Electronics Corporation Limited (Altron) took home a collective pay of R49 million in 2014, up from R30 million the previous year.
BusinessTech takes a look at the salary trends for CEOs in the tech arena over the past five years, matched against their profits.
Companies included in the snapshot are Vodacom, MTN, Telkom, Altron, and Altech, whose wages are among the highest in the sector.
Please note that salary figures (dash lines) are measured in thousands of rands, while profits (solid lines) are recorded in millions of rands, on the same axis.
MTN Group CEO Sifiso Dabengwa walked away with a total salary of over R48 million in 2013 – more than double the R23.5 million he received in 2012.
In the company’s annual report for the year ended 2013, Dabengwa’s massive pay jump is credited to share gains of R19.2 million, along with a higher bonus and relatively small increase in base salary.
Dabengwa’s base salary was R8.9 million – up from R8.4 million in 2012.
Vodacom Group CEO, Shameel Joosub, took home a package of R12.98 million, up from R9.277 million in 2013. Vodacom’s profit jumped to R20.4 billion, from R18.97 billion in 2013.
Telkom is expected to share its remuneration data for 2014 before the end of July, which would include Sipho Maseko’s pay, having been appointed in April 2013. Previous boss, Pinky Moholi, was rewarded with a salary of R11,636 million in 2013, despite the company’s very poor financial performance.
Altron CEO, Robbie Venter, was paid R17.7 million in 2014, up from R11.1 million in the prior year.
The listed technology group reported a 43% rise in diluted headline earnings per share for the year ended February 2014, to 185 cents.
Operating profit climbed to R1.34 billion, from R1.2 billion before.
Altech was bought out by Altron in 2013, but continues to run as a separate entity under the management of Craig Venter, who took home R14.1 million in 2014, up from R7.7 million in 2013.
Venter declined to take a bonus in 2013, following the disappointing results of his company. In 2014, however, his bonus amounted to R5.5 million.
The following tables provide, in numerical terms, the profits accumulated by the five operations, versus the salaries earned by the respective CEOs over a five year period.
Operating profits 2009 – 2014 (ZAR millions)
CEO pay 2009 – 2014 (ZAR thousands)