Home News Telkom group chief Maseko walks away with R35.4m package for the 2021 financial year

Telkom group chief Maseko walks away with R35.4m package for the 2021 financial year

by Editor
Telkom group chief Maseko walks away with R35.4m package for the 2021 financial year

By Thys Khiba

Johannesburg – Telkom has disclosed in its 2021 remuneration report, that its outgoing group CEO, Sipho Maseko was paid a total of R35.4 million, including the R10 million retention bonus, up from R21.8 million in the 2020 financial year.

Maseko’s pay was made up of an R8.8 million guaranteed package, and was also awarded R10.2 million in short term incentives (up from zero in 202), a R10 million retention bonus and R6 million in vested shares.

According to the partially state-owned telecommunications company Telkom, the retention balance of R10 million will be paid in the 2022 financial year.

Maseko is expected to step down next year after at least eight years at the helm.

It has been reported that the telecommunications company has had to cough up big money to retain Maseko’s services. Maseko is widely regarded for having turned around Telkom’s fortunes after he joined the then-troubled group in 2013 has had itchy feet for some time.

Meanwhile, Vodacom chief executive, Shameel Joosub, received R55m pay pre-tax in the 2021 financial year, up 26 percent from R43.4 million a year ago. Maseko’s counterpart, Joosub received R30.2 million post tax, from R23.8 million a year ago.


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