There is not every day: Bawag CEO Anas Abuzaakouk earned no less than 10.9 million euros in 2024, although there was a lot of headwind during the general meeting of the former Union Bank.
This time the shareholders bless the remuneration report (after he had failed in 2023), but about 30 percent voted against it. The majority of the new reward program now consists of variable components, Florian Beckermann, president of the Interest Association for Investors (IVA), told the Austria news agency. The focus on success components in the reimbursement apparently has some investors.
5.50 euros per share – but the problem remains
After all, while the shareholders have to collect a juicy dividend of 5.50 euros per share, some investors from the bank continue to criticize the baass salaries. The IVA is still calling for improvements for the remuneration report.
Given the increased share price, Bawag remains a “joy for the investor”, investigator representative Beckermann admits. After all, the bank is profitable and is very attractive with a view to the dividend.
The only current disadvantage: in the course of Donald Trump’s customs shock, the Bawag course fell from almost 100 euros this week by 13.7 percent to 86.6 euros. However, the course is still about twice as high as two years ago.
Supervisory Council is becoming more and more American
Also exciting: the former Union Bank Bawag is getting more and more American flair. Five of the newly chosen supervisory boards come from America. Do they also understand why some investors are so indignant by the CEO of more than 10.9 million euros?
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.
