MultiChoice shareholders blast exec pay
September 2, 2019
By Chris Forrester
MultiChoice Group is now a separately listed business on the Johannesburg Stock Exchange having been spun off by its parent Naspers earlier this year.
But its new shareholders gave MultiChoice management a hard time at the company’s first AGM, and making it clear that they were not happy with the way MultiChoice was paying its senior managers.
Of those shareholders present at the AGM just 50.3 per cent endorsed the policy of the broadcaster’s Remuneration board, while even fewer (44.7 per cent) endorsed the actual implementation.
The shareholder sentiment prompted MultiChoice to issue a statement on August 30th: “The board and the remuneration committee invite those dissenting shareholders to engage with the company by forwarding their concerns/questions on the remuneration policy and the implementation thereof to the company secretary in writing by email.”