{"id":251971,"date":"2018-06-15T15:46:53","date_gmt":"2018-06-15T13:46:53","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=251971"},"modified":"2018-06-15T16:18:30","modified_gmt":"2018-06-15T14:18:30","slug":"vodacom-ceo-shameel-joosub-scores-r50-million-payday","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/251971\/vodacom-ceo-shameel-joosub-scores-r50-million-payday\/","title":{"rendered":"Vodacom CEO Shameel Joosub scores R50 million payday"},"content":{"rendered":"<p>Vodacom has published its integrated report for the year ended March 2018, revealing how much its top executives were remunerated.<\/p>\n<p>Group CEO Shameel Joosub saw his pay increase from R40.9 million in 2017 to R50.3 million in 2018 &#8211; largely due to increases in his long-term and short-term incentive bonuses.<\/p>\n<p>Joosub&#8217;s basic salary was R10.45 million, while his short-term incentive payout came to R12.4 million. The Vodacom CEO also saw an LTI payout of R22.7 million, and dividends of R4.8 million.<\/p>\n<p>After tax however, Joosub&#8217;s pay amounted to R27.65 million.<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/06\/Shameel-Joosub-Salary-2018.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-251973\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/06\/Shameel-Joosub-Salary-2018.png\" alt=\"\" width=\"640\" height=\"416\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/06\/Shameel-Joosub-Salary-2018.png 962w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/06\/Shameel-Joosub-Salary-2018-300x195.png 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/06\/Shameel-Joosub-Salary-2018-768x500.png 768w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<p>Vodacom chief financial officer, Till Streichert, took home R2.09 million for the year, as well as the equivalent of R14.1 million paid out in British pounds (790,236 GBP).<\/p>\n<p>According to the report, the group paid a total of R8.63 million to 11 non-executive directors for the year.<\/p>\n<p>The group&#8217;s remuneration report noted that it has changed the way the group CEO&#8217;s salary is calculated &#8211; specifically with changes to the structure of the long-term incentive plan.<\/p>\n<p>The revised LTIP policy for the Vodacom CEO is intended to simplify the structure through the removal of the matching arrangement and awards of Vodacom and Vodafone shares only.<\/p>\n<p>Providing the Vodacom CEO has met his share ownership goal, the annual awards at target would be:<\/p>\n<ul>\n<li>A Vodacom award \u2013 equal to 140% of GP; and<\/li>\n<li>A Vodafone award \u2013 equal to 50% of GP.<\/li>\n<\/ul>\n<p>The value of shares awarded is therefore 190% of GP at target performance.<\/p>\n<p>Vodacom announced its full year results in May,\u00a0reporting a 6.3% rise in group revenue to R86.4 billion for the year ended March 2018.<\/p>\n<p>Group service revenue grew 3.4% to R70.6 billion, while operating profit climbed 11.5% to R24.3 billion.<\/p>\n<p>Headline earnings per share remained constant at 923 cents per share, impacted by shares issued to acquire the Safaricom stake, while the group announced a decline in total dividend per share to 815 cents, from 830 cents in 2017.<\/p>\n<hr \/>\n<p><strong>Read:\u00a0<a href=\"https:\/\/businesstech.co.za\/news\/mobile\/250645\/vodacom-in-r17-5-billion-bee-ownership-deal-the-largest-ever-in-the-ict-sector\/\" rel=\"bookmark\">Vodacom in R17.5 billion BEE ownership deal \u2013 the largest ever in the ICT sector<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vodacom has published its integrated report for the year ended March 2018, revealing how much its top executives got paid.<\/p>\n","protected":false},"author":10,"featured_media":23257,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[26,27],"class_list":["post-251971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile","tag-headline","tag-vodacom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/251971","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=251971"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/251971\/revisions"}],"predecessor-version":[{"id":251987,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/251971\/revisions\/251987"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/23257"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=251971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=251971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=251971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}