Telkom’s executives and prescribed officers took home a combined salary of nearly R60 million for the financial year ended March 2014, despite ongoing mass retrenchments within the group.<\/p>\n
Telkom is currently embroiled in a dispute with a host of unions as it aims to reduce its management pool which will affect up to 2,650 managerial staff.<\/p>\n
The company is looking to reduce the number of management layers and achieve an employee cost-to-revenue ratio of 25% over the next 5 years, from 30% currently.<\/p>\n
Telkom has also rejected allegations that race is being considered as the only criteria for the placement of employees in it\u2019s new employment structure.<\/p>\n
In an integrated annual report for 2014, Telkom noted that 11 of the groups top people took home R59.66 million, with CEO Sipho Maseko receiving a total package of R11.7 million, while chief financial officer, Jacques Schindeh\u00fctte<\/a>, who was suspended in October 2013, received R6 million.<\/p>\n The total in 2014 was well below the R69 million paid to the group’s leaders in 2013.<\/p>\n Enzo Scarcella, who was appointed in February as the new chief marketing officer, received a R3 million sign-on bonus, while\u00a0Alphonzo Samuels, appointed as chief technology officer, had total pay which reflected one and a half months in the position.<\/p>\n Deon Fredericks took home R6.6 million, which included an allowance from October 2013 to March 2014 in his capacity as acting chief financial officer.<\/p>\n Telkom’s total executive management team of 37, took home as much as R123.6 million in the 2014 financial year.<\/p>\n In June, Telkom reported an operating profit of R4.6 billion for the year ended March 2014, from a prior loss of R11.15 billion in 2013.<\/p>\n Headline earnings per share, excluding the once off items, increased 35.1% to 388 cents, Telkom said.<\/p>\n The group\u2019s share price has also advanced on the JSE as much as 170% over the past year, with a market cap exceeding R25 billion, from a lowly R8 billion last year.<\/p>\n Telkom also said it reduced its employee count by\u00a09.5% during the financial period ended March 2013, to 19,197, from 21,209\u00a0 before.<\/p>\n Maseko said that on a scale of one to 10, his assessment of what the group has achieved is 8.5.<\/p>\n Solidarity claims victory over Telkom<\/strong><\/a><\/p>\n Retrenchments going ahead: Telkom<\/strong><\/a><\/p>\n Telkom dismisses massive job cut claim<\/strong><\/a><\/p>\nTelkom Exco 2014 Share allocations<\/h3>\n
\n\n
\n Executive<\/strong><\/td>\n Role<\/strong><\/td>\n Share allocation<\/strong><\/td>\n Value<\/strong><\/td>\n<\/tr>\n \n Sipho Maseko<\/td>\n CEO<\/td>\n 218,488<\/td>\n R5,200,015<\/td>\n<\/tr>\n \n Deon Fredericks<\/td>\n CFO<\/td>\n 102,134<\/td>\n R2,430,789<\/td>\n<\/tr>\n \n Len de Villiers<\/td>\n CIO<\/td>\n 96,277<\/td>\n R2,291,392<\/td>\n<\/tr>\n \n Enzo Scarcella<\/td>\n CMO<\/td>\n 27,179<\/td>\n R824,883<\/td>\n<\/tr>\n \n Brian Armstrong<\/td>\n COO<\/td>\n 24,958<\/td>\n R594,001<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n Telkom Exco 2014 salaries<\/h3>\n
\n\n
\n Executive<\/strong><\/td>\n Role<\/strong><\/td>\n Salary (2014)
\n<\/strong><\/td>\n<\/tr>\n\n Sipho Maseko<\/td>\n CEO<\/td>\n R11,711,972<\/td>\n<\/tr>\n \n Brian Armstrong<\/td>\n COO<\/td>\n R7,010,974<\/td>\n<\/tr>\n \n Deon Fredericks<\/td>\n CFO<\/td>\n R6,581,072<\/td>\n<\/tr>\n \n Enzo Scarcella<\/td>\n CMO<\/td>\n R4,000,000<\/td>\n<\/tr>\n \n Len de Villiers<\/td>\n CIO<\/td>\n R1,852,196<\/td>\n<\/tr>\n \n Alphonzo Samuels<\/td>\n CTO<\/td>\n R802,660<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n More on Telkom<\/h3>\n