{"id":140625,"date":"2016-10-19T11:11:13","date_gmt":"2016-10-19T09:11:13","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=140625"},"modified":"2016-10-19T11:11:13","modified_gmt":"2016-10-19T09:11:13","slug":"cell-c-reveals-how-much-money-former-ceo-earned","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/140625\/cell-c-reveals-how-much-money-former-ceo-earned\/","title":{"rendered":"Cell C reveals how much money former CEO earned"},"content":{"rendered":"

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.<\/p>\n

Knott-Craig join Cell C and its board of directors on 1 April 2012, and was tasked with turning the company around.<\/p>\n

In November 2013, Knott-Craig suffered a stroke \u2013 after which Jose Dos Santos took command at the operator.<\/p>\n

Cell C chairman Mohammed Hariri said in May 2014 that \u201cAlan has made a remarkable recovery, and has officially been back at the company since 5 May 2014\u201d.<\/p>\n

Cell C director salaries<\/h3>\n

The table below shows the total director remuneration over the last three years.<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Cell C Directors\u2019 and Prescribed Officers\u2019 Emoluments<\/strong><\/td>\n<\/tr>\n
2013<\/strong><\/td>\n<\/tr>\n
Person<\/strong><\/td>\nPosition<\/strong><\/td>\nBasic Salary<\/strong><\/td>\nBonuses<\/strong><\/td>\nTotal Pay Package<\/strong><\/td>\n<\/tr>\n
Alan Knott-Craig<\/td>\nCEO<\/td>\nR8,000,000<\/td>\nR9,300,000<\/td>\nR17,300,000<\/td>\n<\/tr>\n
IE Pierce<\/td>\nNon\u2013executive director<\/td>\nR338,000<\/td>\n\u2013<\/td>\nR338,000<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
2014<\/strong><\/td>\n<\/tr>\n
Alan Knott-Craig<\/td>\nCEO<\/td>\nR9,167,000<\/td>\nR20,000,000<\/td>\nR29,167,000<\/td>\n<\/tr>\n
Y Mahomed<\/td>\nNon\u2013executive director<\/td>\nR347,000<\/td>\nR840,000<\/td>\nR1,187,000<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
2015<\/strong><\/td>\n<\/tr>\n
JA Boggenpoel<\/td>\nNon\u2013executive director<\/td>\nR600,000<\/td>\n\u2013<\/td>\nR600,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

Cell C\u2019s financial results<\/a> are contained in a circular published by Blue Label Telecoms on Tuesday.<\/p>\n

The pay of its current CEO, Jose Dod Santos were not revealed.<\/p>\n

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.<\/p>\n

Joosub\u2019s total pay package included a guaranteed salary of R7.825 million and a short-term incentive of R13.97 million.<\/p>\n

Similarly, Telkom’s integrated report showed that\u00a0Group 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.<\/p>\n

The chief executive earned a guaranteed package of R7.44 million, and an additional short term incentive pay of R6.13 million.<\/p>\n

And in April, MTN revealed that its former CEO, Sifiso Dabengwa, scored a R40 million salary in 2015, including R23.7 million \u2018compensation for loss of office\u2019, despite a massive fine imposed on the group in Nigeria last year under his watch.<\/p>\n

Research published earlier in the year<\/a> found that the average salary for a CEO of listed company in South Africa was R5.3 million<\/strong> \u2013 shooting up to R9 million<\/strong> when bonuses and incentives are included.<\/p>\n

A report by Moneyweb<\/a> in February,\u00a0 looked at the basic and total salaries of over 730 executive directors from 329 listed companies on the JSE.<\/p>\n

All data was sourced from annual reports, and Statistics SA\u2019s Quarterly Employment Survey for the second quarter of 2015.<\/p>\n

It found the following:<\/p>\n