Telecoms CEOs: Salaries and bonuses

ADSL South Africa (Broadband South Africa), 14 October 2007

It is no secret that being a CEO involves a lot of hard work and a lot of things not so nice. Despite this, local CEOs and executives of telecoms companies have no reason to complain about their compensation packages.

The figures used in this article are based on the ‘…emolument figures for the CEO and/or directors in the respective companies’ annual reports’ (What the telecoms CEOs earn, MyBroadband, 11 October 2007).

One can’t help to be a little bit naughty when looking at the following, because some are really more deserving than others:

Telkom  – Former Telkom CEO, Papi Molotsane, who left Telkom on the 5th of April this year ‘…under suspicious circumstances, received a total remuneration package of R 3 925 987 for his last year of service to the company’ (What the telecoms CEOs earn, MyBroadband, 11 October 2007).

Furthermore:  ‘During his previous six months of his employment he received R 5 602 995, significantly more than his last 12 moths at the helm of Telkom’ (What the telecoms CEOs earn, MyBroadband, 11 October 2007).

In other words, Telkom paid Molotsane almost R10 000 000 in less than 2 year’s time for doing a shitty job at best (not necessarily in reference to the nature of the job but Molotsane’s level of performance).

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