{"id":323459,"date":"2019-06-14T11:53:29","date_gmt":"2019-06-14T09:53:29","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=323459"},"modified":"2019-06-14T11:53:29","modified_gmt":"2019-06-14T09:53:29","slug":"vodacom-ceo-scores-r38-million-payday-after-challenging-year","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/323459\/vodacom-ceo-scores-r38-million-payday-after-challenging-year\/","title":{"rendered":"Vodacom CEO scores R38 million payday after challenging year"},"content":{"rendered":"

Vodacom has published its integrated report<\/a><\/strong> for its latest financial year, ended March 2019, detailing what its top executives got paid.<\/p>\n

For its full year results, the group reported a 5% increase in group service revenue to R74.2 billion, with group revenue increasing 4.3% to R90.1 billion.<\/p>\n

Vodacom saw a slight increase in operating profit to R24.5 billion, up 1.1%, with service revenue increasing 2.1% to R55.7 billion, adding 1.5 million new customers to its South African network over the period, to 43.2 million.<\/p>\n

Headline earnings per share declined to 868 cents per share, from 923 cents previously. The company delivered a dividend per share of 795 cents, down from 815 cents in the prior year.<\/p>\n

Executive pay<\/strong><\/p>\n

Group chief executive officer (CEO) Shameel Joosub saw his total package decrease by 24% in 2019 compared to the prior year, taking home a final pre-tax paycheque of R38.3 million (down from R50.3 million in 2018).<\/p>\n

The CEO’s basic salary increased to R11.28 million (from R10.5 million before), but saw a smaller payout from both short-term (STI) and long-term incentives (LTI), with were 21% and 46% lower than the prior year, respectively.<\/p>\n

Joosub’s STI totalled R9.79 million, with his LTI coming to R12.2 million. He also received dividend payouts of R5 million. His post-tax pay was R21 million.<\/p>\n

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

Vodacom Group’s chief financial officer (CFO), Till Streichert received pay in two currencies – British pounds and rands – totalling \u00a3818,754 and R2.065 million, respectively. At current conversion rates, this equates to a final pre-tax total around R17.4 million for the year.<\/p>\n

The group paid a total of R9.76 million in fees to its non-executive directors.<\/p>\n

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

\n

Read: Mobile market share 2019: Vodacom vs MTN vs Cell C vs Telkom<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Vodacom has published its integrated report for its latest financial year, ended March 2019, detailing what 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":[9872],"tags":[26,27],"class_list":["post-323459","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-headline","tag-vodacom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/323459","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=323459"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/323459\/revisions"}],"predecessor-version":[{"id":323475,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/323459\/revisions\/323475"}],"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=323459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=323459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=323459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}