Pay much lower than her KenolKobil counterpart who earned Sh151m in same period
KenolKobil has a larger market capitalisation but Total reported a bigger profit besides having more net assets.
Total says its executives are paid to help achieve the set performance targets.
Total Kenya #ticker:TOTL managing director Anne-Solange Renouard was paid a total of Sh51.3 million in the year ended December, the oil marketer has disclosed in its latest annual report.
Ms Renouard’s compensation rose 10.6 per cent from a total of Sh46.3 million she earned in the previous year.
Her remuneration is much lower than that of KenolKobil #KENO chief executive David Ohana who was paid a total of Sh151.1 million in the review period besides being given options to acquire shares worth more than Sh1.5 billion over six years.
Bigger profit
KenolKobil has a larger market capitalisation but Total reported a bigger profit besides having more net assets.
Total says its executives are paid to help achieve the set performance targets.
“Executive directors are remunerated in accordance with the employer’s remuneration policy…Annual objectives are set at the beginning of the year and a performance assessment carried out to determine the annual bonus and annual increment,” the company says in the report.
The oil marketer’s executives are paid basic salary, pension and other benefits including house, vehicles, utilities and domestic employees.
Ms Renouard’s earnings in the review period comprised salary and pension (Sh32.1 million), bonus (Sh5 million) and benefits (Sh14.1 million).
In the previous year, she was paid salary and pension (Sh29.8 million), bonus (Sh3 million) and benefits (Sh13.4 million).
Total finance director Premanand Dhoomon was paid a total of Sh29.3 million in the review period, up from Sh28 million the year before.
The oil marketer made a net profit of Sh2.7 billion in the year ended December, beating KenolKobil’s Sh2.4 billion in the same period.
Total also ended the year with net assets of Sh21.4 billion or nearly double KenolKobil’s Sh11.2 billion.
KenolKobil, however, leads with a market capitalisation of Sh25.3 billion, with that of Total standing at Sh21.4 billion.
KenolKobil has become a favourite with investors under the leadership of Mr Ohana who has been credited with turning around the company.
Besides returning to profitability after a record Sh6.2 billion net loss in the year ended December 2012, KenolKobil has cleaned up its books and shut down unprofitable business units.
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