FORMER MTN EXECUTIVE
New EOH CEO Stephen van Coller will likely be a costly engagement
While analysts applaud the former MTN executive’s appointment they do not believe it will come cheap for the IT group
EOH, whose shares rallied over a fifth on the news that the IT group had named Stephen van Coller as CEO, has refused to disclose whether it is paying the former Barclays and MTN executive a sign-on bonus, or what his remuneration will be. While analysts applauded Van Coller’s appointment, effective from September 1, they do not believe it will come cheap for the company, which has had a torturous 18 months on the bourse and whose financial health and governance practices have been the subject of much scrutiny over the past year. Van Coller left Barclays Africa in 2016 to join MTN and has worked as an executive in its strategy, mergers and acquisitions and business development units. In 2017 he pocketed R19.5m in salary, bonus and benefits. Sweetened deal "I’m sure EOH would have had to sweeten the deal considerably for him to have left such an attractive position at MTN," said Nadim Mohamed, partner and analyst at First Avenue Investment Management. On its own, Van Coller’s pay a...
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