DAX Supervisors Bet Big on Their Roles
The Money Talks in Germany's Top Companies
Last year, the supervisory board members of Germany's DAX companies packed a significant punch. Earnings have never been higher for these powerful figures, amounting to a 17.4% increase compared to the previous year. Taken together, these individuals raked in an impressive 117 million euros, as reported by the Deutsche Schutzvereinigung für Wertpapierbesitz (DSW) from annual reports.
The New Leader of the Pack
The main force behind this surge? A top executive from the automotive sector, who now earns 50% more than the average supervisory board chairman. Let's dive deeper into the top earners from each category:
- Heading the list is a big name from the automotive world, whose paycheck totals a whopping 1.5 times the average for chief executives.
- Following closely is an individual from the tech giant Siemens, earning slightly lower than the top earner, but still ranking among the most well-compensated supervisors.
- Completing the trio is aasiatic chemical conglomerate BASF's leader, who has remained consistent in their earnings – a testament to their impressive performance in the industry.
On average, a DAX supervisory board chairman takes home a yearly salary of 393,000 euros. The average remuneration for supervisory board members without a CEO position is just over 117,000 euros, an increase of 4.4% from the previous year.
New Challenges, New Compensation
As regulatory demands and global crises continue to mount, so does the supervisory board members' workload. According to DSW head Marc Tüngler, the increased effort may call for an upward salary adjustment to attract the best minds for future supervisory board roles.
Big Players, Big Paychecks
When it comes to total remuneration, Deutsche Bank heads the pack with approximately 6.8 million euros allocated to its 20 supervisory board members – a 4.8% increase from 2021. BMW closes out the top three, despite only a slight 0.3% rise in total compensation compared to the previous year.
Enrichment Insights
The information provided does not specify the highest earning supervisory board member in the DAX or their annual earnings. However, some insights are available from other companies:
- Siemens AG: Although the shareholders approved a progressive dividend policy of €5.20 per share for fiscal 2024, no details were shared regarding supervisory board members' salaries.
- Altice USA: Dennis Mathew, the CEO and Chairman of the Board, received a base salary of $1,550,000 along with other performance-related incentives, totaling $5,550,000.
- Community Health Systems: The CEO, Tim L. Hingtgen, received a base salary of $1,365,909, while the President and CFO, Kevin J. Hammons, earned $819,545.
For an accurate determination of the highest earning supervisory board member in the DAX, more explicit data on their compensation would be needed, which is not available in the currently available sources.
