MultiChoice executives rake in millions as pay-TV falters and job losses loom
The company’s four top executives received about R54.5m between them
In the face of declining premium subscribers in SA and retrenchments at the company, the four top executives at pay-TV provider MultiChoice earned a total of R54.5m in salaries, according to the company’s first annual report as a listed company.
CEO Calvo Mawela was paid R10.6m, CFO Tim Jacobs received R8.4m while the lion’s share went to executive chair Imtiaz Patel and chief operations officer Brand de Villiers, who earned $1.46m (R20.73m) and $1.02m (R14.74m) respectively. These amounts include base salary, pension, benefits and short-term incentives. They do not take into account share options, which means total compensation may be much higher. ..
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