File image: Telkom CEO Sipho Maseko

CAPE TOWN - Telkom has published its integrated report for the 2018 financial year.

According to the report, Telkom CEO Sipho Maseko was paid a total package of R27.2 million for the 2018 financial year, comprising a basic salary of R8.05 million, a short-term incentive bonus of R7.58 million and a long-term incentive bonus of R11.56 million.


Facts about Telkom's CEO:

1. Mr. Sipho Nkosinathi Maseko has been Group Chief Executive Officer and Executive Director of Telkom SA SOC Limited since April 1, 2013.

2. Between 1993-1995, He studied at the University of KwaZulu-Natal where he received a BA and LLB.

3. Between 1989 - 1992, He received a Bachelor's degree at the University of Witwatersrand.

4. Mr. Maseko served as the Chief Executive Officer and Chief Operating Officer of British Petroleum Southern Africa since 2008.

5. Since September 2011 until July 2012, he served as a Group Chief Operating Officer of Vodacom. 

6. He has been the Chairman of Business Connexion Group Limited since May 10, 2017. 

Additionally, the report showed that Former CFO and new CIO Deon Fredericks received a total pay of R13.6 million for the period.

Telkom paid a further R113.2 million to 10 prescribed officers, including those who have since left the company.

Deputy CFO Tsholofelo Molefe, who has been appointed as the new CFO of the group, was paid R7.2 million, while retired chief information officer (CIO) Len de Villiers earned R14.3 million.

Other executives who have left the company such as Brian Armstrong and Attila Vitai went home with R13.6 million and R24.3 million, respectively.

In May, Telkom reported a 6.55% drop in operating profit for the year ended March 2018, to R4.939 billion, with revenue flat at R41.018 billion.

The group reported a 19.2% decrease in profit after tax to R3.158 billion.

 This, it said, was mainly attributable to an increase in the taxation expense and a 3.6% decrease on earnings before interest, taxation, depreciation and amortisation (EBITDA) of R10.544 million.

This resulted in an 18.4% decrease in headline earnings per share (HEPS) to 597 cents.

The company posted a Consumer revenue up 5.9%, driven by a 47.2% growth in mobile service revenue for the year ended March 2018. 

The company also revealed growth in the mobile business with 30.2% growth to 5.2 million subscribers, with the average revenue per user (ARPU) increasing by 10.2% to R98.

- BUSINESS REPORT ONLINE