Latest news with #2024RemunerationReport
The South African
14 hours ago
- Business
- The South African
MTN under fire as senior management fills its pockets as share price falls
Telecommunications giant MTN Group is under fire from shareholders after nearly R249 million was paid to its executives and board members during 2024 – a year in which the company's share price fell by 21%. At its most recent Annual General Meeting (AGM) in late May, 40.82% of shareholders voted against the company's remuneration implementation report, falling short of the 75% approval threshold required for the non-binding advisory resolution to pass. The company's remuneration policy itself also faced scrutiny, with 24.34% voting against it. The 2024 Remuneration Report shows: Group CEO Ralph Mupita earned R64.75 million earned Group CFO Tsholofelo Molefe received R33.6 million received MTN SA CEO Charles Molapisi took home R26.3 million took home Senior VP Ebenezer Asante earned R37.8 million In total, MTN's top executives were paid nearly R198 million. Meanwhile, non-executive directors collectively received R51.4 million, with Chairman Mcebisi Jonas earning R7.37 million. The generous compensation packages stood in sharp contrast to MTN's 2024 stock performance. The share price declined from R117.00 on 1 January to R91.99 by year-end, prompting dissatisfaction among shareholders who saw their investments shrink. This disconnect between executive remuneration and shareholder returns has been a long-standing point of contention. Many investors argue that pay should be more closely tied to company performance and shareholder value creation. Following the AGM, MTN issued a statement via the JSE's Stock Exchange News Service (SENS) acknowledging the shareholder dissent. The company invited those who voted against the resolution to submit concerns in writing and attend a scheduled engagement session on 26 June 2025. 'We value the insights from our shareholders and remain committed to aligning executive pay with long-term strategic goals,' said Dr Khotso Mokhele, chair of MTN's Human Resources and Remuneration Committee. Despite defending the remuneration structure as 'fair, competitive, and performance-driven,' MTN now faces mounting pressure to rethink its pay philosophy, especially in light of lackluster returns to shareholders. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
Yahoo
06-05-2025
- Business
- Yahoo
Voting results of the 2025 Annual General Meeting of Technip Energies
TECHNIP ENERGIES Technip Energies (PARIS:TE) (the 'Company'), a global technology & engineering powerhouse leading in energy and decarbonization infrastructure, announced today that all resolutions submitted for shareholders' approval at the 2025 annual general meeting were adopted. All resolutions on the agenda were approved by shareholders with more than 83% of the votes, including adoption of the 2024 financial statements and the proposed dividend of EUR 0.85 per outstanding ordinary share for the 2024 financial year. The Company's 2024 Remuneration Report was adopted with 88.73% of votes in favor. The voting results are available at: The following calendar is applicable with respect to the dividend payment: Common Shares American Depositary Receipts Ex-dividend date May 20, 2025 May 19, 2025 Record date for dividend eligibility May 21, 2025 May 19, 2025 Payment of cash dividend May 22, 2025 June 23, 2025 About Technip Energies Technip Energies is a global technology and engineering powerhouse. With leadership positions in LNG, hydrogen, ethylene, sustainable chemistry, and CO 2 management, we are contributing to the development of critical markets such as energy, energy derivatives, decarbonization, and circularity. Our complementary business segments, Technology, Products and Services (TPS) and Project Delivery, turn innovation into scalable and industrial reality. Through collaboration and excellence in execution, our 17,000+ employees across 34 countries are fully committed to bridging prosperity with sustainability for a world designed to last. Technip Energies generated revenues of €6.9 billion in 2024 and is listed on Euronext Paris. The Company also has American Depositary Receipts trading over the counter. For further information: Contacts Investor Relations Media Relations Phillip Lindsay Jason Hyonne Vice-President Investor Relations Press Relations & Social Media Manager Tel: +44 207 585 5051 Tel: +33 1 47 78 22 89 Email: Phillip Lindsay Email: Jason Hyonne Attachment
