Vodacom top four make R85m
Vodacom’s four executive directors – Alan Knott-Craig, Leon Crouse, Pieter Uys and Shameel Aziz Joosub – received total combined pay packages of R85.1 million for the 2007/2008 financial year.
The Vodacom top four received R18.7 million in salaries and restraint of trade payments, R52.2 million in bonuses and incentives (including provisions and cash payments), R13.6million in long term benefits and R0.6 million in fringe benefits.
Vodacom’s continued strong performance is one of the main drivers for the high bonus-related packages.
The Vodacom executives however have no direct share options like their MTN counterparts, something which created a few multi-millionaires and even billionaires at MTN.
MTN’s CEO, Phuthuma Nhleko, received a package of R16 527 000 for the last financial year. While this compares well with Vodacom’s executive director salaries, Nhleko’s Newshelf 664 shareholding in MTN is valued at around R3 billion leaving the Vodacom execs far behind the top brass its listed competitor.
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