{"id":260545,"date":"2018-07-24T10:22:44","date_gmt":"2018-07-24T08:22:44","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=260545"},"modified":"2018-07-24T10:22:44","modified_gmt":"2018-07-24T08:22:44","slug":"telkom-ceo-sipho-maseko-scores-r27-million-payday","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/260545\/telkom-ceo-sipho-maseko-scores-r27-million-payday\/","title":{"rendered":"Telkom CEO Sipho Maseko scores R27 million payday"},"content":{"rendered":"

Telkom has published its integrated report for the 2018 financial year, revealing what the telco group paid its top executives.<\/p>\n

According to the report, Telkom CEO Sipho Maseko was paid a total package of R27.2 million for the 2018 financial year, comprising a basic salary of R8.05 million, a short-term incentive bonus of R7.58 million and a long-term incentive bonus of R11.56 million.<\/p>\n

Former CFO, and new CIO Deon Fredericks scored a total pay of R13.6 million for the period, taking the total pay to the top two executives to R40.8 million.<\/p>\n

Telkom paid a further R113.2 million to 10 prescribed officers, including those who have since left the company, and those who have moved up the ranks.<\/p>\n

Deputy CFO\u00a0Tsholofelo Molefe, who has been appointed as the new CFO of the group, was paid R7.2 million, while retired chief information officer (CIO) Len de Villiers earned R14.3 million.<\/p>\n

Other executives who have parted ways with the company – Brian Armstrong and Attila Vitai – were also paid handsomely, taking R13.6 million and R24.3 million, respectively.<\/p>\n

The tables below outline the executive pay:<\/p>\n

\"\"<\/a> \"\"<\/a><\/p>\n

In May, Telkom reported a 6.55% drop in operating profit for the year ended March 2018, to R4.939 billion, with revenue flat at R41.018 billion.<\/p>\n

The group reported a 19.2% decrease in profit after tax to R3.158 billion. This, it said, was mainly attributable to an increase in the taxation expense and a 3.6% decrease on earnings before interest, taxation, depreciation and amortisation (EBITDA) of R10.544 million<\/p>\n

This resulted in an 18.4% decrease in headline earnings per share (HEPS) to 597 cents.<\/p>\n

Mobile growth was strong,\u00a0with consumer revenue up 5.9%, driven by a 47.2% growth in mobile service revenue for the year ended March 2018. The growth in the mobile business was supported by 30.2% growth to 5.2 million subscribers, with the blended average revenue per user (ARPU) increasing by 10.2% to R98, Telkom said.<\/p>\n

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Read:\u00a0Naspers boss scores massive R164 million payday<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Telkom has published its integrated report for the 2018 financial year, revealing what the telco group paid its top executives.<\/p>\n","protected":false},"author":10,"featured_media":63895,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[26,65],"class_list":["post-260545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-headline","tag-telkom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/260545","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=260545"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/260545\/revisions"}],"predecessor-version":[{"id":260581,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/260545\/revisions\/260581"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/63895"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=260545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=260545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=260545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}