{"id":187779,"date":"2017-07-25T09:49:24","date_gmt":"2017-07-25T07:49:24","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=187779"},"modified":"2017-07-25T10:56:53","modified_gmt":"2017-07-25T08:56:53","slug":"telkom-executives-score-r200-million-payday","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/187779\/telkom-executives-score-r200-million-payday\/","title":{"rendered":"Telkom executives score R200 million payday"},"content":{"rendered":"

Telkom has released its annual report for the year ended March 2017, revealing how much the company’s top executives got paid.<\/p>\n

Telkom CEO, Sipho Maseko walked away with a total package of R25.9 million, including a basic salary of R7.44 million, and a bonus of R8.8 million. Maseko also has shares to the value of R9.64 million.<\/p>\n

CFO, Deon Fredericks scored R13.5 million, including a basic salary of R5.3 million and a bonus of R4.37 million. Fredericks’ vested shares amounted to R3.86 million.<\/p>\n

Former chief operating officer, Brian Armstrong, who stepped down at the end of the financial year, was paid R10.3 million, and chief technology officer, Alphonso Samuels, received R8.95 million.<\/p>\n

CEO of consumer, mobile and small business at Telkom, Atila Vitai was paid R11.6 million, while former BCX CEO and current Telkom chief procurement officer, Ian Russel, scored R9.5 million.<\/p>\n

In total, Telkom paid R200.8 million to its executive management team (of 47 people) in 2017.<\/p>\n

The average executive pay was R4.27 million<\/strong>, up from the average of R4.1 million it paid to 41 executives in 2016.<\/p>\n

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In May 2016, Telkom reported a 10% increase in revenue to R41 billion for the 2016 financial year, and declared a dividend of 422 cents per share.<\/p>\n

The group’s results were boosted by the full consolidation of BCX, and solid growth in its mobile business, it said.<\/p>\n

Headline earnings per share (HEPS) grew 12.4%to 731.4 cents, though basic earnings per share (BEPS) declined 1.5% to 749.1 cents. The main difference between HEPS and BEPS is the gain from property sales, the company said.<\/p>\n

The key highlights of its results included:<\/p>\n