[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.
Sats’ annual report published on Thursday (Jul 10) showed the 54-year-old was rewarded with about S$1 million in salary, representing 32 per cent of his total remuneration. He received S$1.2 million in bonuses, about S$862,500 worth of Sats shares and S$74,000 in benefits.
For the previous year, his total remuneration comprised about S$916,400 in salary – or 38 per cent of the total sum – S$896,700 in bonuses, S$537,700 worth of shares and S$74,000 worth of benefits.
During FY2025, the group made several adjustments to align its remuneration framework with its future business priorities and transformational goals.
For instance, it suspended its economic value added-based incentive plan for senior management from April 2024. However, it granted a one-off transformation long-term incentives award to group management board (GMB) members, of which there are 11, including the CEO.
This award, said the group, 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.
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. The group 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 its 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 closed 0.3 per cent or S$0.01 lower at S$3.12 on Friday.
