The second highest-paid executive is the CEO for Americas at Worldwide Flight Services
INFLIGHT caterer and ground handler Sats reward its chief executive officer Kerry Mok with a remuneration of S$2.4 million for FY2024, a year when the Singapore-based group reported its first profit after being hit by the pandemic and its acquired cargo handler started contributing to its financials.
The remuneration – made up of about S$920,000 in salary, S$900,000 in bonuses, S$540,000 in vested shares, and S$74,000 in benefits – was a 27.9 per cent jump over FY2023’s S$1.9 million.
Specifically, Mok’s salary was only 4.9 per cent higher, but his bonuses shrank 5.5 per cent. There were no vested shares for FY2023 for the 53-year-old.
The second highest-paid executive in FY2024 was the CEO for Americas at Worldwide Flight Services, which Sats brought into the fold in April 2023 at an enterprise value of 2.3 billion euros (S$3.4 billion).
Michael Simpson drew a remuneration of S$2 million to S$2.25 million. The previous second highest-paid executive was Sats’ chief financial officer, Manfred Seah, who had a remuneration of S$1.25 million to S$1.5 million in FY2024, compared with $1 million to $1.25 million for FY2023.
Sats recorded the highest ever top line of S$5.1 million (up from S$1.8 million) and earnings of S$56.4 million for FY2024 to March, against a net loss of S$26.5 million in the year-ago period.
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The counter was unchanged at S$2.94 at 10.58 am on Thursday, after the annual report was published.
