Telkom CEO’s salary

Telkom recently released its annual report for the year ended March 31, 2009.  This report includes Telkom’s directors’ emoluments (salaries), giving some insight into the salary packages of the telecoms provider’s top brass.

Over the last financial year Telkom CEO Reuben September received a total pay package of R 12 827 648.  This consisted of a basic remuneration of R 3 555 800, a performance bonus of R 1 841 396 and ‘fringe and other benefits’ of R 7 430 452.  This salary is lower than September’s previous total pay package of R 19 108 837.

Over the same period Telkom’s new Chief Financial Officer, Peter Nelson, was paid R 1 841 568.  This consisted of a basic remuneration of R 975 112, a performance bonus of R 448 551 and benefits of R 417 905.  Nelson however only joined Telkom on 8 December 2008, which means that his R 1.8million salary was only for a four month period.

Telkom Chairperson, Shirley Lue Arnold, was paid R 1 030 000.  According to the Telkom’s annual results document Arnold attended 4 quarterly board meetings and 11 special board meetings.  The payment for other non-executive directors varied between R 642,000 (PSC Luthuli) and 124,001 (AG Rhoda). 

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Telkom CEO’s salary