Revealed: What MultiChoice bosses are paid - TechCentral

Revealed: What MultiChoice bosses are paid

MultiChoice Africa Group executive chairman Imtiaz Patel

MultiChoice Africa Group, which will list on the JSE next month, expects to pay executive chairman Imtiaz Patel R22.2-million for the year ended 31 March 2019, up from R19.7-million in the 2018 financial year.

Patel is by far MultiChoice’s highest-paid executive, according to the group’s pre-listing statement, which was published after markets closed in Johannesburg on Monday. Naspers, which is unbundling its controlling stake in MultiChoice to shareholders, expects the pay-television operator to list on the JSE on 27 February.

The regulatory filing shows that Patel will earn a basic salary of R7.6-million in the 2019 financial year, down from R8-million in 2018. However, he will take home a bonus of R7.6-million, up from R6.4-million previously.

MultiChoice CEO Calvo Mawela will likely take home R7.7-million, which will include a R3.2-million bonus and base pay of R3.8-million. His total package in the previous year was R9.8-million.

Long-serving MultiChoice executive Nolo Letele will take home R8.5-million, of which R4.6-million is basic salary and R3.4-million a bonus. That’s down from R9.3-million previously. Tim Jacobs, the chief financial officer, is set to get total remuneration of R7.9-million, of which R5.4-million is in the form of a bonus and other benefits.  — © 2019 NewsCentral Media

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