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vodacom Chief executive’s salary rises 25%

June 20 2012 at 05:00am
By Bloomberg

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Vodacom raised chief executive Pieter Uys’s pay 25 percent in the past year, in line with an increase in full-year earnings, the biggest provider of cellphone services to South Africans said yesterday. Salary, benefits and bonuses for Uys totalled R16.5 million in the 12 months to March compared with R13.2m a year earlier, Vodacom said in its annual report published on Monday. Vodacom, which is majority owned by Vodafone, said it posted a 23 percent increase in full-year net income to R10.1 billion as customer numbers in the company’s five national markets jumped 30 percent to 47.8 million. Uys’s base salary was raised 5.3 percent to R7m, while a short-term bonus was increased 46 percent to R9.4m. The company awarded Uys incentive performance shares to the value of R9.3m, exercisable starting in June 2015. Chief financial officer Ivan Dittrich received R7.3m worth of shares, also exercisable in 2015. The shares fell 0.4 percent to R93.80 yesterday. – Bloomberg


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