Fixed compensation
Investor protectors: DAX supervisory boards get more money
Supervisory boards are supposed to control the management of stock corporations. An important remuneration reform has been in effect in all companies since 2023.
The supervisory boards of the 40 stock corporations in the German stock market index Dax received 5.4 percent more money last year than in 2022. The total remuneration for the company controllers rose to 123.7 million euros, reports the investor protection organization DSW.
Volkswagen has the most expensive control body with remuneration totaling around 7.5 million euros (+42 percent), ahead of Deutsche Bank (7.4 million euros, +8.4 percent) and Mercedes-Benz (5.9 million euros, – 9.1 percent).
On average, the chairmen of the control committees received 421,000 euros for their work for the entire year. That was more than three times as much as ordinary members, who earned an average of 127,000 euros. The top earner is Alexander Wynaendts from Deutsche Bank with 929,167 euros, followed by Michael Diekmann at Allianz with 759,000 euros and Hans Dieter Pötsch at Volkswagen with 676,000 euros.
For the first time last year, all members of the Supervisory Board received fixed compensation, reports DSW. This means that a long-standing demand from shareholder advocates has been implemented. “The supervisory board is particularly challenged in times of crisis, the workload and the level of responsibility increase extremely. According to the logic of common variable compensation components, individual compensation would decline precisely when the supervisory board is particularly challenged,” says DSW expert Frederik Beckendorff.
dpa
Source: Stern
