Telkom defends R20-million bonus payments to Maseko
former group CEO, Sipho Maseko, another R10-million retention bonus in the 2022 financial year, the telecommunications group’s 2022 annual report, published on Monday, shows.Maseko resigned last year, leaving Telkom’s employ on 31 December, though he remains available to his successor Serame Taukobong as an adviser.
Telkom said in the annual report that shareholders had questioned last year’s R10-million retention bonus paid to Maseko. “The combination of a constrained market that drove tough trading conditions with regulatory events pointed to an even tougher outlook for Telkom in 2020 and 2021. The board considered it to be strategically important to retain Mr Maseko’s services for a minimum period of two years,” the annual report said.
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