[SINGAPORE] Kerry Mok, chief executive officer of inflight caterer and ground-handling company Sats, earned over S$3.1 million in total remuneration in FY2025 ended March, up 30.5 per cent from S$2.4 million in FY2024.
The 54-year-old was rewarded with about S$1 million in salary or 32 per cent of his total remuneration, S$1.2 million in bonuses, and about S$862,500 worth of Sats shares and S$74,000 in benefits in FY2025, indicated Sats’ annual report.
His FY2024 total compensation was made up of about S$916,400 in salary or 38 per cent of the total remuneration, S$896,700 in bonuses, S$537,700 worth of shares and benefits stayed at around S$74,000.
During FY2025, the group made several key adjustments to align the remuneration framework with its future business priorities and transformational goals after a review.
It suspended the group’s Economic Value Added-based Incentive Plan for senior management from April 2024, but granted a one-off transformation long-term incentives award to group management board (GMB) members.
This award, the group said, is designed to support its transformation agenda, enhance alignment with long-term shareholder value creation, and retain and motivate the GMB over a five-year performance period.
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There are 11 GMB members including the CEO.
Sats reported S$243.8 million in earnings for FY2025, soaring more than four times from S$56.4 million from the year-ago period. Turnover was S$5.8 billion, 13 per cent higher year on year.
It is rewarding shareholders a final dividend of S$0.035 per share if the proposed payout is approved at the annual general meeting.
Sats also reported customer privacy breaches and customer data losses in the annual report. There were two complaints received from outside parties regarding data incidents impacting Sats suppliers, and one incident arising from an internal unauthorised access by Sats employees.
Sats shares dipped S$0.02 or 0.6 per cent to S$3.11 at 4.50 pm on Friday (Jul 11).
