South African telecoms CEO salaries plummet

The salaries of South African telecommunications CEOs have plummeted over the last year.

Vodacom’s latest financial report shows that its CEO Shameel Joosub’s salary dropped from R12,980,500 in 2013 to R10,933,000 in 2014.

MTN CEO Sifiso Dabengwa saw an even bigger pay cut – down from R48,077,000 in 2013 to R28,128,000 in 2014.

The lower salaries may be related to the mediocre performance of the two companies – MTN and Vodacom only showed an 8% total shareholder return over the last year.

However, even though Blue Label Telecoms produced a total shareholder return of 29%, its two CEOs also saw a massive salary cut.

Co-CEOs Brett and Mark Levy’s 2014 salaries of R6,797,000 each were much lower than the previous year when they earned R14,107,000 each.

The infographic below provides an overview of the CEO salary changes of large JSE-listed telecommunications companies.

It should be noted that Telkom CEO Sipho Maseko only joined the company in 2013, and his most recent salary will only be provided when the company publishes its latest financial report.

Salary change of telecoms CEOs
Salary change of telecoms CEOs

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South African telecoms CEO salaries plummet