{"id":386323,"date":"2020-03-31T12:08:09","date_gmt":"2020-03-31T10:08:09","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=386323"},"modified":"2020-03-31T12:08:09","modified_gmt":"2020-03-31T10:08:09","slug":"mtn-executives-score-big-payday","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/386323\/mtn-executives-score-big-payday\/","title":{"rendered":"MTN executives score big payday"},"content":{"rendered":"

MTN has published its integrated report for 2019, showing what its top executives were paid in the last year.<\/p>\n

MTN group chief financial officer, Ralph Mupita, took home the largest salary at the group in 2019, earning R66.3 million for the year. This includes a basic salary of R9.15 million, other benefits of R43.8 million (including R42 million paid out as part of an incentive scheme), and a R13.4 million bonus.<\/p>\n

Group chief executive officer, Rob Shuter took home a salary of R58.23 million, including a basic salary of R17.3 million and a R27.6 million bonus.<\/p>\n

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Including executive directors and prescribed officers, MTN paid a total of R292.2 million in salaries to its 12 top executives in 2019.<\/p>\n

Of this, prescribed officers accounted for R167.7 million.<\/p>\n

The table below outlines how they were paid.<\/p>\n

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Split across a year (365 days), the average executive earns R49,950 a day – with Shuter and Mupita earning R159,550 and R181,650 a day, respectively.<\/p>\n

The table below outlines how these salaries a split per day:<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Executive<\/th>\nTotal Remuneration<\/th>\nPer Day<\/th>\n<\/tr>\n
R Mupita<\/td>\nR66 302 000<\/td>\nR181 649<\/td>\n<\/tr>\n
R Shuter<\/td>\nR58 234 000<\/td>\nR159 545<\/td>\n<\/tr>\n
I Jaroudi<\/td>\nR24 999 000<\/td>\nR68 490<\/td>\n<\/tr>\n
J Schulte-Bockum<\/td>\nR23 900 000<\/td>\nR65 479<\/td>\n<\/tr>\n
E Asante<\/td>\nR23 020 000<\/td>\nR63 068<\/td>\n<\/tr>\n
F Moolman<\/td>\nR21 093 000<\/td>\nR57 789<\/td>\n<\/tr>\n
K Toriola<\/td>\nR19 110 000<\/td>\nR52 356<\/td>\n<\/tr>\n
G Motsa<\/td>\nR15 654 000<\/td>\nR42 888<\/td>\n<\/tr>\n
P Normal<\/td>\nR14 138 000<\/td>\nR38 734<\/td>\n<\/tr>\n
F Sekha<\/td>\nR10 395 000<\/td>\nR28 479<\/td>\n<\/tr>\n
L Modise<\/td>\nR8 260 000<\/td>\nR22 630<\/td>\n<\/tr>\n
M Fletcher<\/td>\nR7 115 000<\/td>\nR19 493<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
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Financial performance<\/strong><\/p>\n

Earlier in March, MTN reported a healthy rise in revenue for the year ended December 2019, despite challenging macroeconomic conditions, particularly in South Africa.<\/p>\n

The group also announced that Shuter will be stepping down at the end of his contract in March 2021.<\/p>\n

The group reported revenue growth of 9.7% to R151.5 billion, with MTN South Africa revenue almost unchanged at R36.43 billion.<\/p>\n

Reported headline earnings per share (HEPS) were 468 cents, from 337 cents in December 2018.<\/p>\n

Highlights<\/strong><\/p>\n