98 / 108
In 2017, the board did not consider an increase to the NED fees. However, a benchmark exercise
conducted by management highlighted a need to review and align the fees paid to our chairman of
the board based on the peer benchmark criteria. All other committee members were granted an
inflation-linked increase. Thus, the fee structure for 2018 is as follows:
Annual
retainer
fee
Meeting
attendance
fee
Annual
retainer
fee
Meeting
attendance
fee
2017
2017
2018
2018
MTN GROUP BOARD
Chairman
R2 518 081 R139 893
R2 886 671 R160 370
Member
R212 492 R53 123
R225 242 R56 310
International member
€76 928
€7 693
€78 082
€7 808
Special assignments or projects (per day)
Local non-executive director
– R22 639
– R23 997
International non-executive director
–
€3 373
–
€3 424
Ad hoc
work performed by non-executive
directors for special projects (per hour)
–
R3 985
–
R4 224
Audit committee
Chairman
R112 901 R34 828
R119 675 R36 918
Member
R61 681 R23 997
R65 382 R25 437
Remuneration and human resources
committee
Local chairman
R84 303 R31 757
R89 361 R33 662
International chairman
€5 625
€3 590
€5 709
€3 644
Local member
R49 401 R23 289
R52 365 R24 686
International member
€3 297
€3 297
€3 346
€3 346
Risk management, compliance and
corporate governance committee
Chairman
R84 303 R31 757
R89 361 R33 662
Member
R49 401 R23 289
R52 365 R24 686
International member
€3 297
€3 297
€3 346
€3 346
Social and ethics committee
Chairman
R84 303 R31 757
R89 361 R33 662
Member
R49 401 R23 289
R52 365 R24 686
MTN Group Share Trust (trustees)
Chairman
R74 929 R28 226
R79 425 R29 920
Member
R32 943 R15 530
R34 920 R16 462
Sourcing committee
Chairman
R74 929 R28 226
R79 425 R29 920
Member
R43 783 R20 641
R46 410 R21 879
Remuneration report
continued
96
MTN Group Limited
Integrated Report 2017