EOH, troubled JSE-listed technology group, has paid its CEO more than R19 million in 2019.
The company disclosed in its annual report that Stephen van Coller, having been bought out of an existing contract joined with a guaranteed payment of R10 million, paid in two equal tranches in October 2018, and October 2019.
Van Coller was also awarded 1 million share options on joining EOH.
His total package include a basic salary of R5.4 million ( which includes medical aid, death and disability insurance, unemployment insurance fund (‘UIF’) and any amounts paid on resignation). It also consists of R14 million bonus (includes buy-out of bonus contract of R10 million).
Van Coller was poached from MTN Group.
While Megan Pydigadu, who was appointed as financial director in 15 January 2019 was paid R4 million in total remuneration.
In November 2018, EOH announced that it has appointed Pydigadu as its new group financial director. Since August 2010, was Group Chief Financial Officer and Group Financial Director of MiX Telematics Limited (formerly Telimatrix Ltd).
Fatima Newman, who was appointed as chief risk officer and executive director in 31 July 2019 was paid R8.3 million.
Newman, having been bought out of an existing contract joined with a guaranteed payment of R3 million and a guaranteed bonus of R4 million.
The other executives were paid, see below:
The company said from full-year 2020, all executive directors bonus payments will be based on individual and company performance.
EOH went through a significant business transformation process during 2018 and 2019, resulting in a new business operating model and strategy going forward.
In addition, there were significant changes to the leadership of the organisation, both at board level and the executive management level