Sipho Maseko scores R23-million salary

Telkom has published its annual report for the 2019 financial year, outlining the performance of the company and the salaries of its top executives.

CEO Sipho Maseko earned a total of R23.2 million over the last financial year, comprising a guaranteed salary of R8.3 million, a bonus of R7 million, and a vested share payout of R5.3 million.

Dividends paid on unvested shares totalled R2.56 million.

Other highly-paid executives include chief financial officer (CFO) Deon Fredericks, who earned a total of R10.56 million, and his successor Tsholofelo Molefe, who earned a total of R7.8 million over the past year.

Telkom paid its prescribed officers a total of R63.2 million for the year, which combined with director pay of R40.8 million, means the group paid a total of R104 million to its top executives.

Below are the salaries earned by Telkom executive directors and prescribed officers, including CEO Sipho Maseko.

The figures below include guaranteed pay (GP), short term incentives (STIs), long term incentives (LTIs), and total remuneration.

Other contributors to total remuneration such as motor vehicle insurance and dividends paid on unvested shares were not included in the comparison.

Telkom Executive Salaries

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Telkom Executive Directors
Executive GP STI LTI Total
Sipho Maseko (CEO) R8,291,500 R7,006,091 R5,301,396 R23,179,782
Deon Fredericks (CFO) R1,432,988 R500,000 R1,650,285 R4,765,557
Tsholofelo Molefe (CFO) R3,155,663 R2,308,254 R6.040,676
Telkom Prescribed Officers
Officer GP STI LTI Total
TBL Molefe R1,051,888 R769 418 R1,821,306
DJ Fredericks R4,298,963 R1,500,000 R5,808,059
PJ Bogoshi R3,916,667 R2,882,223 R6,798,989
S Taukobong R5,000,000 R3,665,238 R8,674,334
AN Samuels R5,150,000 R3,414,416 R1,150,851 R9,727,363
CJ Moganwa R1,181,151 R1,181,225
AC Beukes R1,287,398 R815,893 R2,107,002
LTS Maloba R3,552,500 R1,777,150 R5,329,749
NM Lekota R3,493,760 R2,553,963 R6 047 822
L Siyo R2,933,333 R1,760,000 R4,704,330
IM Russell R833,333 R7,079,081, 10,982,400

Now read: “We are killing Telkom”

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Sipho Maseko scores R23-million salary