Big pay cut for Vodacom CEO

Vodacom CEO Shameel Joosub has taken a significant pay cut, according to the company’s remuneration report for the financial year ended 31 March 2019.

Joosub received 23.9% less in the 2019 financial year than he received in 2018, earning significantly less from short-term and long-term incentives.

His total pay decreased from R50.2 million in 2018 to R38.2 million in 2019, despite his guaranteed pay increasing from R10.4 million to R11.3 million.

Joosub’s bonus from short-term incentives was cut down by 21% and his long-term incentive bonus fell by 46.1%.

He received dividends of R5 million, an increase of 4.6% on last year’s R4.8 million.

Vodacom CFO Till Streichert also took a pay cut in 2019, although his total remuneration fell by only 1.3%, mostly attributed to a drop in his short-term incentive bonus.

Below is the pay mix for Vodacom CEO Shameel Joosub and CFO Till Streichert.

Vodacom Remuneration report CEO

Vodacom Remuneration report CFO

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Big pay cut for Vodacom CEO