Big reward for fine fighter Nhleko
MTN Group awarded executive chairman Phuthuma Nhleko R72.2m in pay and bonuses last year after he negotiated a reduced fine with Nigerian regulators
MTN Group awarded executive chairman Phuthuma Nhleko R72.2m in pay and bonuses last year after he negotiated a reduced fine with Nigerian regulators and shook up senior management. Nhleko, 56, was paid a R30-million salary and a R38.2-million bonus, Africa's biggest mobile phone group said in its annual report published on Thursday. The balance was a fee for simultaneously holding the role of nonexecutive chairman. Nhleko retook the leadership of the Johannesburg-based company on a short-term basis in November 2015 after the resignation of CEO Sifiso Dabengwa. "In order to take on this full-time executive role at short notice, Mr Nhleko was required to commit 100% to the MTN task and step away for 16 months from all his considerable other various commercial interests," the wireless operator said. "The board negotiated an appropriate monthly fee and performance-related cash bonus contract with him." Nhleko also hired Rob Shuter as new CEOearlier this month. Shuter has been handed a f...
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