South African Tech Founders Brett And Mark Levy Pocket 4.3m As Cell C Rebound Drives Bonuses

Blu Label Telecoms Ltd. rewarded its co-chief executives with a combined R74.3 million 4.3 million for the year to May 2025 as the companys bet on reviving mobile-phone operator Cell C paid off in a sharply higher share price. Brett Levy and Mark Levy each received R37.4 million 2.16 million, up almost 80 from R20.8 million 1.2 million a year earlier, according to the companys remuneration disclosures cited by MyBroadband. The surge came almost entirely from variable pay a hallmark of turnarounds that hinge on performance gains. Incentives, not salaries, fuel the jump Fixed salaries edged up only 6, rising to R12.4 million 717,000 from R11.7 million 677,000. Bonuses more than doubled to R15.2 million 880,000 apiece, while long-term incentive awards nearly quadrupled to R9.8 million 567,000 each. The payout structure links 20 of bonuses to individual KPIs and 80 to financial metrics notably normalized EBITDA growth 40 and core headline earnings 40. Long-term awards vest against targets for earnings per share, total shareholder return, return on capital employed and ESG goals. Share surge supports generous rewards Blu Labels stock price has rallied more than 175 in the 12 months to May 31, climbing from about R4.30 0.25 to R11.86 0.69. Investors have responded to managements effort to reposition Cell C as a capital-light operator, outsourcing network operations to cut fixed costs and focus on services. The windfall for the Levys mirrors that upswing though critics warn that market gains can be fleeting in South Africas competitive telecom sector, where heavy capital needs and shifting regulation can quickly erode margins. Governance spotlight on rich pay Blu Label bought a 45 stake in Cell C for R5.5 billion 318 million in 2017 but later wrote down the investment after years of losses.The current management strategy, built around cost control and network partnerships, has revived optimism and underpinned the rich rewards for top leaders. Even so, the sharp rise in pay has drawn the eye of governance watchers, who say companies emerging from long restructurings need to tread carefully in balancing incentives and shareholder value. For now, Blu Labels board is betting that keeping the Levys heavily exposed to performance metrics aligns them with investors.How long the rebound lasts and whether the generous incentives prove sustainable will be tested in the next phase of Cell Cs recovery.