Peter Ndegwa Safaricom CEO Salary, who was appointed as the leading telecommunications firm’s top executive for a period of three years, bagged KSh 313.11 million, compared to KSh 288.93 million received in 2022.
Peter Ndegwa’s salary
Safaricom Chief Finance Officer Dilp Pal followed closely with a salary of KSh 57.94 million, bonuses of KSh 39.67 million, and non-cash benefits of KSh 17.73 million, taking home KSh 115.34 million.
Peter Ndegwa and Pal received a total remuneration of KSh 428.45 million during the same period under review.
Drop in Safaricom share price
The company’s total directors’ remuneration increased by 13.25% to hit KSh 534.04 million during the same period under review.
According to the Annual Report 2022, the telco paid KSh 471.54 million to directors as remuneration, with salaries amounting to KSh 142.94.
This came as the company share price dropped in the past 12 months to KSh 19.55 per share in July 2023 compared to KSh 28.2 reported during the same period in 2022.
Peter Ndegwa’s exit from Safaricom
Peter Ndegwa took over as Safaricom CEO in April 2020 following the death of Bob Collymore in July 2019.
The 54-year-old has over 25 years of experience in various roles within financial services and fast-moving consumer goods.
He made history as the first-ever Kenyan to be at the helm of the giant telco and has since dismissed claims of his exit after the end of his term in April 2023.