2023 Author: Eric Donovan | [email protected]. Last modified: 2023-05-21 15:44
The success of the car manufacturer Daimler is also paying off for CEO Dieter Zetsche. According to the current state of affairs, the manager should come to an annual salary of 8.25 million euros for 2013.
For Daimler boss Dieter Zetsche, the most recent successes are literally paying off: the group leader is collecting 8.25 million euros for 2013 according to the current status. This emerges from the annual report of the Dax group published on Friday. In the previous year it was 8.15 million euros, partly due to setbacks in the important car division. At that time, Zetsche had to accept cuts of around half a million euros in his salary.
The latest increase is not surprising: the remuneration is based, among other things, on the operating profit - and Daimler exceeded that in 2013 compared to the previous year thanks to the sale of its shares in the aerospace group EADS. The group had already presented the preliminary figures at the beginning of the month. The operating result increased in 2013 from 8.8 billion euros in the previous year to 10.8 billion euros. Sales increased by 3 percent to around 118 billion euros. The bottom line was 8.7 billion euros (plus 28 percent), with the EADS sale having a positive impact of around 3.2 billion euros.
Daimler's management team collected a total of 30.2 million euros for the past year (2012: 27.3 million euros). However, their bonuses do not increase indefinitely: The annual bonus is limited to double the base salary. In the future, the board members should have prominent controllers: According to the annual report, the board proposes the former BMW boss Bernd Pischetsrieder, the former Bosch manager Bernd Bohr and Siemens board member Joe Kaeser for the committee. On April 9, the annual general meeting is to vote whether the managers move in for five years. Last year, shareholder representatives called for more controllers with automotive and industrial expertise on the supervisory board.
Winter grain before Zetsche
The exact amount of Zetsche's salary has not yet been determined: like that of his fellow board members, it consists of a fixed and a variable payment. The latter will only take stock a few years later. Depending on how good or bad things went, the board members can get more or less. The successes of the competition are also used as a benchmark.
It is not yet clear whether Zetsche is currently ahead of his rivals with his salary. The other automakers have not yet published the current remuneration of their board members. Last year, however, Zetsche was one of the best-paid managers. Among the CEOs of the 30 Dax companies, only VW boss Martin Winterkorn received more: with around 14.5 million euros, he was the absolute front runner. In the past, high manager salaries were repeatedly criticized. Most recently, according to a report in the Frankfurter Allgemeine Zeitung, the European Commission campaigned for a limit on manager salaries. In future, shareholders should vote on the remuneration at the general meeting. They should also determineThe factor by which the remuneration of the executive board may be higher than the average wage of the employees.
In the boardrooms of the large German DAX corporations, salaries in the millions are a matter of course: According to a study published by the "Bundesanzeiger Verlag", the annual salaries of regular board members were recently between 1.1 and 5.7 million euros. The group bosses collected between 1.4 and 14.5 million euros. (dpa)