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. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.