Datatec CEO bags hefty R48m bonus for Westcon sale

Jens Montanana, CEO of JSE-listed technology services group Datatec, bagged a cool US$3.5-million (about R48.5-million at the time of writing) in the 2018 financial year for the successful sale of its Westcon Americas unit to Synnex.

That took Montanana’s total pay for the year to $6.1-million (R84.5-million). That was made up of a basic salary of $1.3-million, bonus of $1-million, pension of $201 000, other benefits of $26 000 and the hefty $3.5-million deal bonus.

He wasn’t the only one to cash in on the sale of Westcon Americas.

Chief financial officer Ivan Dittrich — Datatec’s only other executive director — was awarded a deal bonus of more than $1.7-million. Together with his salary of $436 000, bonus of $196 000, pension of $65 000 and other benefits of $15 000, his total package for the 2018 financial year came to $2.4-million. Ditrich was formerly chief financial officer at Vodacom Group.

All board members, including nonexecutive directors, were paid total emoluments of $9.2-million (about R128-million).

In November 2017, TechCentral reported that Datatec shareholders were in line for a special cash dividend totalling R4.9-billion following the group’s sale of Westcon Americas.  — (c) 2018 NewsCentral Media