The executive salaries of Dax bosses are falling - slightly, but for the second time in a row. The salary difference to normal employees remains enormous.
Actually, former SAP boss Bill McDermott, with a salary of more than 15 million euros, would probably have been the number one top earner of the Dax bosses again. However, the American handed over his office in October 2019 to his successors Christian Klein and Jennifer Morgan, who each earned 5.4 million euros in 2019, projected to the full year, which is significantly less than the previous year. The top earner among the heads of the 30 DAX companies is therefore now Herbert Diess. In 2019, he earned 9.9 million euros, more than any of the others and thus remained just below the carmaker's self-imposed upper limit.
Merck boss Stefan Oschmann took second place last year with EUR 8.5 million. Siemens boss Joe Kaeser is third. He received 7.2 million euros. This is shown by a study of the German Association for the Protection of Securities Holdings (DSW) and the Chair of Controlling at the Technical University of Munich, based on the annual reports of the stock corporations.
Read the whole article on the renumeration study here on Handelsblatt.