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Compensation of DAX Board Members Rose in 2023 - VW CEO Breaks ...
2024-07-23 19:55:07
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Compensation of DAX Board Members Rose in 2023 - VW CEO Breaks 'Sound Barrier'

The compensation of DAX board members in 2023 increased by 5.8%, with an average payment of 3.6 million euros per member, according to a study by the Deutsche Schutzvereinigung für Wertpapierbesitz (DSW). Volkswagen CEO Oliver Blume broke the 'sound barrier' by earning 10.3 million euros, making him the highest earner.

Björn Gulden from Adidas and Christian Sewing from Deutsche Bank ranked second and third at 9.2 million euros and 9.0 million euros, respectively. The study also revealed that the board compensation exceeded personnel expenses per employee by a factor of 40. In comparison, the average salary in the EuroStoxx 50 was 6.9 million euros, while in the US, the average CEO earned 24.2 million euros.

Apple CEO Tim Cook and Dassault Systèmes CEO Bernard Charlès were the top earners internationally. Despite the increase in compensation, the DAX CEOs earned less than their counterparts in Switzerland and France.

Overall, the DAX companies performed well in 2023, with the German stock index increasing by 20.3%.

The press radar on this topic:

Tagesschau - Wirtschaft und Börsen-Nachrichten
23. Juli 2024 um 12:25

Ranking So viel verdienen die DAX-Chefs

Economy
Finance
Stand: 23.07.2024 14:25 Uhr Oliver Blume has become the first DAX executive board chairman to earn more than ten million euros per year. However, compared to Apple CEO Tim Cook, he is still almost a "low earner". Oliver Blume has broken through a sound barrier: Last year, the chairman of the executive board of Volkswagen and the VW subsidiary Porsche AG earned 10.3 million euros. He is thus the first DAX group CEO whose salary exceeds the 10 million euro mark. This emerges from the executive c..
DER SPIEGEL
23. Juli 2024 um 15:50

How much the DAX bosses earn: The most expensive one gets 10 million a year - DER SPIEGEL

Economy
Finance
Executive salaries in DAX companies have increased in 2023; Volkswagen CEO Oliver Blume is the top earner with 10.3 million euros; Adidas CEO Björn Gulden and Deutsche Bank CEO Christian Sewing follow with 9.2 and 9.0 million euros respectively.
DER SPIEGEL
23. Juli 2024 um 15:50

Dax bosses earn so much: Up to ten million euros annual salary - DER SPIEGEL

Economy
Finance
Executive salaries in DAX companies rose by 5.8% in 2023 to an average of 3.6 million euros. The top earners were Volkswagen CEO Oliver Blume with 10.3 million euros, Adidas CEO Björn Gulden with 9.2 million euros, and Deutsche Bank CEO Christian Sewing with 9.0 million euros. Women earned on average 12.1% less than men. In international comparison, German executive salaries are lower, while in the USA they are significantly higher.
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