[dropcap]V[/dropcap]odacom CEO Shameel Joosub took home a total of R21,4m in the 2017 financial year, the group revealed in its annual report, published on Thursday. That’s a small decline on the R21,8m he was paid in 2016.
Joosub’s 2017 package included a R10m guaranteed package (up from R7,8m last year) and a R10,9m bonus (down from R14m). He received a further payment of R498 667, which included various benefits.
Vodacom chief financial officer Till Streichert was paid a total package of about £600 000 (R9,9m at the time of writing) plus R1,1m in 2017, for a total of R11m. Some £199 000 (R3,3m) of that was in the form of a bonus.
Vodacom also disclosed the 2017 remuneration of prescribed officers. They are:
- Vuyani Jarana — total pay of R8,1m;
- Nyimpini Mabunda — total pay of R5,9m (Mabunda joined Vodacom in September 2016, five months into the reporting period);
- Vivek Mathur — pay of 40,9m Indian rupees (R8,1m at time of writing) plus R1,9m in other benefits, for a total package of R10m.
The pay packages exclude long-term incentives and benefits.
Outgoing Vodacom chairman Peter Moyo was paid R2,3m for his services. The new chairman, Jabu Moleketi, who takes up the role next month, will receive R2,6m. Other board members were paid R390 000 in 2017. This has been increased to R450 000 in the 2018 financial year.
For the 2017 financial year, Vodacom grew revenue by 4,5% to R81,3bn. Headline earnings per share and dividends per share both rose by 1,4%, to R9,23 and R8,30 respectively. — (c) 2017 NewsCentral Media