Former Kenya Airways (KQ) CEO Sebastian Mikosz pocketed over Sh10 million in exit package from the airline.
Mikosz’s special compensation for leaving KQ before the expiry of his contract is captured in the airline’s annual report released recently.
The report shows that Mikosz’s pay rose by 46 percent to Sh91 million last year after KQ factored Sh11.12 million compensation for loss of office. In addition, Mikosz was paid Sh40.06 million in basic salary, Sh29.02 million allowances, and non-cash benefits totaling Sh10.98 million.
“We are grateful to Sebastian for steering the airline through the headwinds and ensuring the airline continued to pursue its strategy. We wish him well in his future endeavors,” KQ chairman Michael Joseph says in the report.
In 2018, Mikosz earned a total of Sh62.89 million including Sh42 million salary, Sh16.43 million allowances, and non-cash benefits amounting to Sh4.44 million.
Mikosz, a Polish national, joined the cash-strapped national carrier on June 1st, 2017, and was tasked with turning around the airline’s fortunes.
His three-year contract was set to end at the beginning of this month but he left the company on December 31st, 2019. He was replaced by Allan Kilavuka, who previously served as Jambojet CEO.
Mikosz joined the International Air Transport Association (Iata) as its senior vice-president for member and external relations on June 1st.