24 C
Kenya
Sunday, August 25, 2019

The salary and allowances Geoffrey Odundo earns as NSE CEO

Must Read

Shock as 90,000 teachers quit KNUT

KNUT Membership: BY SUNDAY STANDARD: Shocking revelations have emerged of some 90,000 teachers who have pulled out of Knut...

Salary and allowances James Mworia earns as Centum CEO

James Mworia's Salary: A few years ago, Centum CEO, James Mworia, was ranked as the highest paid chief executive...

Half of all Safaricom employees now women

Safaricom Women Employees: Safaricom has become the first major company in Kenya to have half of its workforce made...

Geoffrey Odundo Salary: The chief executive office of Nairobi Securities Exchange (NSE), took home a salary totaling Sh. 23.7 million in the financial year ended December 2018.

This salary represented a 30.5 percent pay rise which was equivalent to a raise of Sh. 5.6 million.

In the previous year, he had earned Sh. 18.1 million.

His current salary comprised a basic salary of Sh. 21.7 million and Sh. 1.9 million pension.

Geoffrey Odundo salary in the previous year consisted Sh. 16.5 million basic salary and Sh. 1.6 million pension.

The salary and allowances John Gachora earns as NIC CEO

NSE’s net earnings fell 12 percent to Sh. 190.6 million, largely due to administrative expenses rising 13 percent to Sh560.3 million.

The company’s three percent sales growth to Sh626.1 million trailed the pace at which costs rose, resulting in the profit dip.

A prolonged bear run on the Nairobi bourse has also constrained NSE’s ability to grow earnings substantially. The benchmark NSE 20 Share Index, for instance, is nearly 50 percent off the last peak of 5,491 points in February 2015.

Most of the company’s revenue is derived from fees calculated on the value of transactions, with higher stock prices serving to boost the commissions.

“The chief executive is the only executive director on the board and the company has in place a remuneration policy which is aimed at ensuring compensation is competitive and aligned to the company’s strategic objectives,” NSE says in its latest annual report.

The company added that Mr Odundo’s contract was renewed for a second and final term which will run until February 2023.

Besides Mr Odundo, the NSE raised the pay of most of its non-executive directors by hundreds of thousands of shillings each.

- Advertisement -

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Salary and allowances James Mworia earns as Centum CEO

James Mworia's Salary: A few years ago, Centum CEO, James Mworia, was ranked as the highest paid chief executive...

Salary and allowances James Mworia earns as Centum CEO

James Mworia's Salary: A few years ago, Centum CEO, James Mworia, was ranked as the highest paid chief executive officer in Kenya. Of late,...

Half of all Safaricom employees now women

Safaricom Women Employees: Safaricom has become the first major company in Kenya to have half of its workforce made up of women. This is...

Survival tips for your small business in a tough economy

SME in Kenya: Recent news of large legacy companies laying off staff in Kenya has been the talk of town in Kenya. Struggle for...

See detailed half year Co-op Bank financial results

Co-op Bank Financial Results: The Co-operative Bank Group is delighted to report a Profit before Tax of Kshs.10.44 Billion for the first half of...

More Articles Like This

- Advertisement -
%d bloggers like this: