Pay slip: Al Panlilio, top PLDT execs to take 33 percent cut in 2021 compensation | Bilyonaryo Business News

Pay slip: Al Panlilio, top PLDT execs to take 33 percent cut in 2021 compensation

Good news is Al Panlilio has finally gotten his long-awaited promotion after bilyonaryo Manny V. Pangilinan announced he would pass on his president and CEO posts in PLDT to his long-time protege next month.

Bad news is Panlilio, along with other top PLDT execs, will see their total compensation slashed by a third in his first year at PLDT’s summit.

PLDT pegged the combined salary, bonus and other compensation of Panlilio and the rest of its top five highest compensated officers at P253 million in 2021, down by 30 percent from P365 million in 2020.

For its other executive officers and directors, PLDT has budgeted a total compensation package of P739 million in 2021, down by 33 percent from P1.11 billion.

While their basic salary and regular bonuses are relatively unchanged from the previous year, PLDT has slashed other compensation in 2021 under its transformation incentive plan which is tied to individual and group performance on corporate and customer satisfaction objectives.

PLDT’s top executives are expected to get only P328 million in extra compensation in 2021 based on their performance in 2020 which was pulled by the pandemic. Their 2020 income was bloated by the P836 million extra compensation they received from PLDT’s spectacular results in 2019.

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