Telkom CEO Sipho Maseko has pocketed R25.9 million in 2017, up from R14.5 million that he received last year.
That's according to the company's Integrated Report for the year ended 31 March 2017. This report is primarily prepared for Telkom's providers of financial capital and other stakeholders at large.
It also serves as the company's communication on progress to the United Nations Global Compact in terms of human rights, labour, the environment, and our anti-corruption efforts.
It was published ahead of Telkom's annual general meeting of shareholders set for 24 August.
Telkom notes that Maseko, who also has shares valued R9.64 million, cashed in a total package of R25.9 million, including a basic salary of R7.44 million, and a bonus of R8.8 million.
Maseko was appointed as CEO of Telkom in April 2013 and serves as an executive director. Prior to joining Telkom, he served as group chief operating officer and managing director at Vodacom.
The other exec who got a handsome reward is CFO, Deon Fredericks, who walked away with R13.5 million, including a basic salary of R5.3 million and a bonus of R4.37 million. Fredericks' shares amount to R3.86 million.
He was appointed as the group CFO in September 2014. He previously served as deputy to the CFO and as the group executive of corporate finance accounting services from November 2004 to October 2013. He joined Telkom in 1993 as a senior manager in internal audit and has held several executive positions in the finance department. He previously served on the Vodacom board where he chaired the audit committee.
Telkom's ex-COO, Brian Armstrong, who left the telecommunications company at the end of the financial year, was paid R10.3 million, while Alphonso Samuels, chief technology officer, ,was paid R8.95 million.
CEO of consumer, mobile and small business at Telkom, Atila Vitai was paid R11.6 million, while former BCX CEO and current Telkom chief procurement officer, Ian Russel, received R9.5 million.
Last month, Telkom reported strong revenue growth for the year ended 31 March 2017, boosted by robust mobile service revenue and the full-year inclusion of BCX.
Overall group operating revenue increased 9.8% to almost R41 billion, despite a decline in fixed-line service revenue.
The group's net revenue grew by 7.9% to R31.9 billion, while group EBITDA was stable at R10.9 billion, with an EBITDA margin of 26.7%.
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