Telkom directors` salaries and fees amounted to R60.16 million in the year to end-March.
The group`s latest annual report shows that the nine executive directors were paid a total of R59.05 million, while the 14 non-executive directors received a total R1.11 million.
CEO Sizwe Nxasana received a total of R4.03 million for the year. That included a performance bonus of R1.72 million and fringe and other benefits of R747 792.
However, his was not the largest package. American Anthony Lewis, who quit as CFO in March, received R15.35 million and COO Shawn McKenzie, also American, was paid R10.76 million.
During the year Telkom achieved a net profit of R1.63 billion, up from the previous year`s profit of R1.22 billion. Revenue rose from R34.2 billion to R37.6 billion and headline earnings per share increased to 314c from a previous 299.3c.
Nxasana says in the annual report that as the company builds on these achievements in the current year it will continue to promote and deliver price and reliability as the clear competitive advantages of the fixed-line offering.
He says employees have shown willingness to embrace significant change and rise to the challenge of competing more aggressively.
"Our investment in our fixed-line employees is directed towards defined, focused internal change programmes.
"These impact the appropriate areas to afford the sustainable differentiation that comes with a strong corporate culture properly aligned to business deliverables."
Nxasana says the group`s culture change is an ongoing process aimed at instilling in employees the need to adopt and practice world-class standards and behaviour.
"All things considered, we believe that our ability to compete is stronger than ever before and we welcome the chance to measure ourselves against new competitors.
"Quality competition can only benefit all market players by growing the size of the overall market, as has been the case with the introduction of the third mobile operator."
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