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Multichoice Bosses Rake In Rich Rewards

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Multichoice Bosses Rake In Rich Rewards

South Africa is known as one of the most unequal countries in the world when incomes to executive vs employee pay, where some chief executives can earn as much as 800 times the average salary of the people who work for them.

According to a PwC report in 2018, the pay ratio in South Africa – worker pay to CEO pay – was at 65:1 in 2018, up from 62:1 in 2017.

MultiChoice Group executive chairman Imtiaz Patel last year received almost US$1.5-million (about R21.4-million at the time of writing) in base salary, bonuses, pension and short-term incentives in the 2019 financial year, the media group’s 2019 annual report shows. This year, Imtiaz Patel will be taking home over R22 million in the 2019 financial year with other executives also raking in millions.

CEO Calvo Mawela received R10.6-million, of which R5.6-million was in base salary, this year he will get a pay cut, taking home R7.7 million under the company’s new public structure.

Executive Role FY2018 Salary FY 2019 Salary
Imtiaz Patel Chair and executive director R19 724 687 R22 151 470
Francis “Nolo” Letele Non-executive director R9 282 943 R8 488 294
Timothy Jacobs CFO R8.400 000 R7 917 709
Calvo Mawela CEO R9 795 537 R7 741 250
John Volkwyn Non-executive director R1 691 575 R3 059 127
Donald Eriksson Independent non-executive director R1 354 039 R1 786 742
Kgomotso Moroka Independent non-executive director R833 850 R1 401 053
Joseph Pacak Lead independent non-executive director R671 016 R1 242 975
Elias Masilela Non-executive director R795 000 R770 800
Louisa Stephens Independent non-executive director R733 750
Total R44 148 647 R55 293 170

When not expelling tech wisdom, Rutendo feeds on good stories that strike on all those emotional chords. She loves road trips, a good laugh, and interesting people.

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