Home Boardroom Games Telkom Boss Sipho Maseko Takes a R2 million Cut in 2020 Remuneration

Telkom Boss Sipho Maseko Takes a R2 million Cut in 2020 Remuneration

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Sipho Maseko.
Sipho Maseko. Image source: YouTube

Telkom boss Sipho Maseko’s total remuneration was reduced by R2 million in 2020 financial year to R21.8 million versus R23.2 million in 2019, according to the company’s latest annual report.

Maseko took home guaranteed pay of R8.8 million and R10.5 million in vested shares. He also received R2.4 million in dividends on shares that weren’t vested.

Telkom’s highest-paid executive was former chief financial officer Deon Fredericks, who retired as chief investment officer. He was paid a total of R26 million, including R16 million in vested shared and 5.7 million in severance pay.

Fredericks was followed closely by Alphonzo Samuels, who retired as boss of Telkom’s infrastructure business Openserve, whose total package was R19.74 million, which includes R6.1 million in severance pay and R7.5 million in vested shares.

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