DURBAN - Africa’s leading video entertainment company, the MultiChoice Group, increased the total remuneration of its chief executive, Calvo Mawela, by 125percent to $1.59million (R27.53m), up from $708 000 compared to 2019, according to its annual report released yesterday.
The amount for the year to end March 2020 includes an annual salary of $571 000, a pension of $67 000, benefits of $227 000 and short and medium-term incentive (STI) of $726 000. The group said the STI reflected bonus paid was based on the performance of the relevant financial year.
The STI paid to Mawela comes after the group reported a solid set of financial results for the year to end March. Highlights included a 38 percent growth in core headline earnings to R2.5billion and consolidated free cash flow increasing by 59percent to R5.2bn, driven mainly by an improvement in the trading results from the Rest of Africa, a focus on cost containment and a reduction in working capital.
More: https://www.iol.co.za/business-repo...oice-ceo-01f3bcd6-0e45-4336-99a0-b7a7f22ad7ef
The amount for the year to end March 2020 includes an annual salary of $571 000, a pension of $67 000, benefits of $227 000 and short and medium-term incentive (STI) of $726 000. The group said the STI reflected bonus paid was based on the performance of the relevant financial year.
The STI paid to Mawela comes after the group reported a solid set of financial results for the year to end March. Highlights included a 38 percent growth in core headline earnings to R2.5billion and consolidated free cash flow increasing by 59percent to R5.2bn, driven mainly by an improvement in the trading results from the Rest of Africa, a focus on cost containment and a reduction in working capital.
More: https://www.iol.co.za/business-repo...oice-ceo-01f3bcd6-0e45-4336-99a0-b7a7f22ad7ef
