Johncom doubles pay for executives as profit soars
Johncom doubles pay for executives as profit soars
September 5, 2005
Johnnic Communications (Johncom), the owner of the Sunday Times, more than doubled chief executive Connie Molusi`s pay as its annual profit surged.
Molusi`s pay rose to R5.77 million in the year to March from R2.35 million the previous year, the company said in its annual report last week. His total compensation included a R1.63 million salary, a bonus of R1.39 million and share options worth R2.34 million.
Deputy chief executive Prakash Desai`s pay also more than doubled, rising to R4.57 million from R2.02 million. His compensation included a base salary of R1.49 million, a R1.03 million bonus and share options worth R1.67 million.
Johncom posted annual net income of R461 million, up from R183.5 million.
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