Rob Shuter gets R74 million for 8 months at MTN

Former MTN CEO Rob Shuter received a salary package of R73.8 million in the last financial year, the company’s latest financial results revealed.

Shuter joined MTN as the new group president and CEO in April 2017. Before joining MTN he served as CEO of the European Cluster at Vodafone Group.

He also held senior management roles at Vodacom, Standard Bank, and Nedbank prior to joining Vodafone Group.

In March 2020 MTN announced that Shuter will step down from his position at the end of his fixed four-year contract in March 2021.

Shuter, however, left MTN at the end of August 2020 after Ralph Mupita was appointed as president and CEO.

Even before Mupita was announced as the new CEO, BT Group announced Shuter has been appointed as CEO of its enterprise division.

BT Group said in June 2020 that Shuter would be appointed both as BT Enterprise CEO and as a member of BT Group’s executive committee.

“I’m delighted to welcome Rob to BT. He brings a wealth of international telecoms experience and has a track record of driving innovation in business and consumer markets,” said BT Group chief executive Philip Jansen.

“This will make him ideally suited to drive forward the support we provide to UK businesses and public sector organisations.”

Shuter’s LinkedIn profile states that he now resides in Whitechapel, England where he is “Chief Executive Officer Enterprise at BT”.

The former MTN CEO received a generous payday from the mobile operator for the eight months he deserved in 2020.

Shuter received a total salary package of R73.775 million, which included:

  • A basic salary of R18.154 million.
  • Post-employment benefits of R1.997 million.
  • Other benefits, which include payment of cash-settled share-based incentives, of R17.807 million.
  • Bonuses of R30.104 million.
  • Share gains of R5.713 million.

New MTN CEO Ralph Mupita also did not do badly. He received a total salary package of R30.827 million last year.

Mcebisi Jonas, who replaced Phuthuma Nhleko as MTN chairman in December 2019, received R5.128 million for his board duties.

MTN directors’ emoluments and related payments

MTN salaries

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Rob Shuter gets R74 million for 8 months at MTN