The forty supervisory boards of the DAX companies received significantly more money last year than in 2021. The supervisors of listed German companies also received more money, according to a study by the German Association for the Protection of Securities (DSW).
The chairmen received 7.7 percent more and averaged around 393,000 euros. That is 32,750 euros per month. Members of the control committee raised an average of around 117,000 euros, which amounts to at least 9,750 euros per month. Compared to 2021, this is an increase of 4.4 percent. “Companies are facing enormous challenges due to new European regulations and multiple global crises. This also makes the work of supervisory boards increasingly demanding,” says Marc Tüngler, director of DSW.
The top earners received 610,000 euros
The top earner among the chief controllers in the DAX in 2022 was BMW’s Norbert Reithofer with 610,000 euros. In second place is Jim Hagemann Snabe from Siemens (602,000 euros), in third place is Kurt Bock from BASF (550,000 euros). However, Merck’s Wolfgang Büchele received the lowest pay among the supervisory board chairmen in the highest German stock market competition (112,000 euros).
In the MDAX of the 50 medium-sized shares, the average salaries of chief controllers were lower by around 212,000 euros (plus four percent) and full members by around 68,000 euros (plus 2.7 percent) than in the DAX. In the SDAX of the seventy smaller companies, the chairmen of the supervisory board earned around 134,000 euros (plus 6.7 percent) and members around 50,000 euros (plus 3.9 percent).
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
