On the back of a solid financial performance in the year ended 31 March 2016, Vodacom Group CEO Shameel Joosub took home R21,8m in pay, R14m of which was made up of a short-term incentive bonus.
That’s double the total package of R10,9m he was paid in the 2015 financial year. It excludes long-term incentives and benefits.
Vodacom released the remuneration details of its executive directors and prescribed officers in its 2016 integrated report on Friday (see table below).
Strong demand for data services, underpinned by an aggressive investment in 3G and 4G/LTE network infrastructure, resulted in a strong full-year performance by Vodacom.
Headline earnings per share rose by a fairly muted 2,7% to R8,83, but this number was negatively impacted by re-measurement of foreign currency-denominated inter-group loans and once-off black economic empowerment charges.
Other big earners in the 2016 financial year included:
— Vodacom Business chief officer Vuyani Jarana, who took home R9m, R5m of which was in the form of a short-term incentive bonus; and
— Romeo Kumalo, who earned R4,3m, the same as as he took home in the previous financial year, despite resigning only two months into the 2016 financial year. Kumalo was paid a guaranteed package of R608 333, with the bulk of his package made up of R3,7m in resignation benefits. — (c) 2016 NewsCentral Media