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Johannesburg - Eskom's board has rewarded the efforts of CEO Jacob Maroga to keep South Africa's lights on with a 26.7% salary increase, considerably more than the 10.5% given to the rest of the power utility's workforce.
However, Maroga told Fin24.com he didn't ask for the increase.
"I can't comment on that. I prefer not to talk about my salary," said Maroga. "The board made that decision and you can make an appointment with the board chairperson (former AngloGold CEO Bobby Godsell) to discuss that."
He said the board arrived at the decision after assessing his performance.
Eskom's annual report showed Maroga's basic salary increased from R3.914m in 2008 to R4.96m this year. He also received additional performance shares worth R681 446.
"I don't bargain. The board makes an assessment and decides what to award," said Maroga.
He also cast doubt on Fin24.com's calculation. "I'm sure you didn't understand the increase. You did not get the correct figure."
However, when Fin24.com asked if he could provide the correct detail, Maroga walked away.
Employees of the parastatal settled for a 10.55% increase in August after an arbitration ruling at the Commission for Conciliation, Mediation and Arbitration that averted a strike at the last minute.
Maroga has also received deferred bonus shares (vested to him at no charge to June 2011) to the value of R5.1m.
- Fin24.com