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The top managers of the DAX companies pocketed these million salaries in 2020


The corona crisis is tearing gaps in the financial coffers of many people and companies. In the case of the bosses of the DAX companies, the loss is limited. The 2020 salary ranking.

The corona crisis is tearing gaps in the financial coffers of many people and companies.

In the case of the bosses of the DAX companies, the loss is limited.

The 2020 salary ranking.

Munich - Due to the Corona crisis, numerous people had to accept financial losses.

Many employees were put on short-time work, others lost their jobs entirely.

In contrast, things went much better for the top managers of the DAX companies in 2020: Their income fell by an average of just ten percent.

We show you the 2020 salary ranking of Dax company bosses (including bonuses).

28th place: Stefan De Loecker (Beiersdorf)


© Christian Charisius / dpa

The Belgian Stefan De Loecker initially worked for the Swiss company Nestlé for a few years.

The German-born manager then moved to the British retail chain Tesco in 2011 before moving to Beiersdorf AG.

De Loecker has been with Beiersdorf since 2012


© Christian Charisius / dpa

In 2012 De Loecker joined Beiersdorf AG.

Since 2019 he has been CEO of the consumer goods group based in Hamburg-Eimsbüttel.

Last year he earned a salary of 2.12 million euros (2019: 2.40).

27th place: Reiner Winkler (MTU Aero Engines)


© Bernd Settnik / dpa

After completing his studies, Reiner Winkler worked at Siemens from the mid-1980s.

This was followed by an engagement at Daimler-Benz AG, then at its subsidiary Telefunken microelectronic (TEMIC).

Winkler stayed there until after the turn of the millennium.

Winkler worked his way up to CEO


© Bartosz Bator / dpa

Winkler joined MTU Aero Engines in 2001 and rose over the years to CEO.

Since 2014 he has been at the helm of the company that manufactures engines for civil and military aviation.

Winkler pocketed 2.79 million euros in 2020 (2019: 3.73).

Rank 26: Reinhard Ploss (Infineon)


© Peter Kneffel / dpa

Born in Bamberg, Reinhard Ploss studied process engineering at the Technical University of Munich.

Even before he received his doctorate, he worked at Siemens.

With the spin-off of the semiconductor business from Siemens, Ploss switched to the newly founded Infineon AG in 1999.

With Infineon right from the start


© Matthias Balk / dpa

Infineon is the largest German manufacturer of semiconductors.

The company is also one of the ten largest companies in this sector worldwide.

Reinhard Ploss has headed Infineon as CEO since October 2012.

In this role, he earned 2.93 million euros in 2020 (2019: 3.56).

25th place: Martin Brudermüller (BASF)


© Uwe Anspach / dpa

CEO Martin Brudermüller has been with BASF since completing his chemistry studies.

Initially he worked as a chemist for the Ludwigshafen company.

Over the years, he continued to rise at the Dax company and in 2020 had revenues of 3.15 million euros.

CEO Brudermüller a classic "child of the group"


© Uwe Anspach / dpa

Since May 2018 he has been directing the fortunes of the chemical company based in Ludwigshafen in Rhineland-Palatinate.

By the way, in 2019 he earned 3.20 million euros.

24th place: Elmar Degenhart (Continental)


© Thomas Frey / dpa

Elmar Degenhart studied aerospace engineering at the University of Stuttgart and then did his doctorate at the Fraunhofer Institute for Manufacturing Engineering and Automation.

From August 12, 2009 to the end of November 2020, he was CEO of Continental AG.

He was honored for his work


© Julian Stratenschulte / dpa

As the successor to Karl-Thomas Neumann, he earned 3.15 million euros in 2020 (2019: 3.94).

The Leibniz Universitätsgesellschaft Hannover eV awarded him the Kamarsch commemorative coin for the reorientation and further development of the company that he shaped.

23rd place: Michael Zahn (Deutsche Wohnen)


© Sabine Gudath / IMAGO

Michael Zahn has been CEO of Deutsche Wohnen since December 2008.

He has been part of the Executive Board since September 2007. His current position includes the strategic direction of the Deutsche Wohnung Group, acquisitions and sales, personnel, communication, IT and care.

Zahn studied economics at the Albert Ludwig University in Freiburg.

Million salary in the same amount as 2019


© Christoph Soeder / dpa

In 2020, Michael Zahn received 3.17 million euros as CEO.

This makes him the only top manager on this list with no difference in salary compared to 2019.

The housing company Deutsche Wohnen SE, based in Berlin, owns around 163,000 apartments and 2,600 commercial properties.

Nursing facilities and apartments with care facilities are also part of the property portfolio.

22nd place: Christian Klein (SAP)


© Uwe Anspach / dpa

Christian Klein has been CEO of SAP SE since October 11, 2019.

He began his career in the company as a student in 1999. He worked, for example, in the areas of controlling and services operations.

From 2011 to 2012 he also held the position of commercial director of SAP SuccessFactors in California.

The salary of his current post in 2020 was 3.30 million euros.

Due to the severance payment to his predecessor, SAP spent 15.18 million euros on the position in 2019.

Klein waives part of his salary


© Uwe Anspach / dpa

In the wake of the corona pandemic, a spokesman announced that Christian Klein wanted to forego part of his fixed salary.

He wants to donate a sum of 220,000 euros to charity.

Overall, this is a fifth of his fixed salary, which is 1.1 million euros.

21st place: Joachim Wenning (Munich Re)


© Alexander Heinl / dpa

Joachim Wenning has been CEO of Munich Reinsurance since April 27, 2017.

He studied economics in Munich.

In 1995 he completed his dissertation with a doctorate to become a Dr.




He was appointed to the Board of Management of Munich Re in 2009 after having been CEO of Neue Rück in Geneva since 2005.

From Munich Re to Munich Re


© Lino Mirgeler / dpa

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft has been operating in Munich under the Munich Re brand since 2009.

Part of the company is the Ergo Group, which is responsible for the primary insurance business.

Wenning received 3.55 million euros in his position in 2020 (2019: 5.88).

20th place: Kasper Rorsted (Adidas)


© Daniel Karmann / dpa

The Danish manager Kasper Rorsted has been CEO of Adidas AG since October 1, 2016.

Before that, he was CEO of Henkel AG & Co.

His salary in 2020 was 3.71 million euros (2019: 7.24).

Adidas: Second largest sporting goods manufacturer in the world


© Axel Heimken / dpa

The company's total turnover in 2020 was 19.8 billion euros.

Adidas has a total of 62,285 employees.

Adidas is the second largest sporting goods manufacturer in the world after Nike.

He also equips famous athletes, teams and events as a sponsor.

19th place: Markus Steilemann (Covestro)


© Rolf Vennenbernd / dpa

Markus Steilemann is a chemist and manager.

He has been CEO of Covestro AG since June 2018.

He studied chemistry and business administration at RWTH Aachen University.

He also received his doctorate there.

His career at Bayer AG began in 1999. After Covestro AG emerged from Bayer Materialscience, he became a member of the Board of Management there.

His salary in 2020 was 3.76 million euros (2019: 2.17)


Former Bayer division


© Oliver Berg / dpa

Covestro AG is based in Leverkusen and has its origins in the former plastics division of Bayer AG.

The material manufacturer develops, produces and sells polymer materials at around 30 locations in Europe, Asia and America.

In 2020, annual sales were 10.7 billion euros and earnings before interest and taxes 696 million euros.

18th place: Ola Källenius (Daimler)


© Sebastian Gollnow / dpa

Ola Källenius was born in Sweden and has been Chairman of the Board of Management of Daimler AG since May 2019.

Daimler employs a total of around 288,500 people and posted sales of 154.3 billion euros in 2020.

4.14 billion euros of this went to Källenius as a salary (2019: 3.60)

Källenius wants to save money in management


© Marijan Murat / dpa

Källenius' predecessor is Dieter Zetsche, who left the position at the end of May 2019.

As Källenius explained in November 2020, he wants to save around 10 percent in management by 2022.

Priorities would have to be set during development.

In addition, the CEO is striving to make the company more sustainable.

17th place: Stephan Sturm (Fresenius)


© Frank Rumpenhorst / dpa

Stephan Sturm studied economics and business administration at the University of Mannheim.

His career began in 1989 as a management consultant at McKinsey.

He has been CEO of Fresenius since July 1, 2016, replacing Ulf Schneider.

During the storm, Fresenius bought the Spanish clinic operator Quirónsalud.

Fresenius: Listed in the Dax since 2009


© Arne Dedert / dpa

In 2020 he received 4.19 million euros for his work at the medical technology and health care group (2019: 6.01).

Fresenius is one of the largest private hospital operators in Germany.

The company also has a 32 percent stake in the dialysis specialist Fresenius Medical Care.

It has been listed in the DAX on the German stock exchange since March 23, 2009.

16th place: Christian Sewing (Deutsche Bank)


© Arne Dedert / dpa

Christian Sewing has been a member of the Board of Management of Deutsche Bank since January 1, 2015.

In April 2018, he became chairman, succeeding John Cryan.

Previously, he was responsible for the private and business banking division.

Sewing is also part of the Board of Management and the Presidium of the Association of German Banks.

There, too, Cryan is his predecessor.

Largest provider of mutual funds


© Arne Dedert / dpa

In 2020, around 37,300 employees worked for Deutsche Bank in Germany and around 84,700 worldwide.

With the DWS Investments division, Deutsche Bank is the largest provider of mutual funds in Germany thanks to a market share of around 26 percent.

In terms of salaries for the CEO, the company is in 16th place with 4.29 million euros (2019: 4.41).

15th place: Carsten Knobel (Henkel)


© Rolf Vennenbernd / dpa

Carsten Knobel has been CEO of Henkel since January 2020.

Previously, he had been part of the Executive Board since 2012 and was responsible for the areas of finance, purchasing and integrated business solutions.

His CEO salary in 2020 was 4.76 million euros (2019: 6.92)

Henkel has locations in 79 countries


© Maja Hitij / dpa

The headquarters of Henkel AH & Co. KGaA are in Düsseldorf-Holthausen.

The listed producer of products in business areas such as detergents and cleaning agents, beauty care and adhesives achieved sales of around 19.3 billion euros in 2020.

Henkel employs 52,950 people with 125 nationalities in 79 countries.

14th place: Oliver Zipse (BMW)


© Matthias Balk / dpa

Oliver Zipse * has already spent his entire professional life at BMW AG.

In 1991 he started as a trainee in development, technical planning and production.

Before he became CEO, he was most recently responsible for the Production department.

His salary in 2020 was 5.13 billion euros (2019: 4.48).

2.26 million vehicles produced in 2020


© Peter Kneffel / dpa

BMW was founded in 1916. Today the company employs 120,726 people and in 2020 posted sales of 99 billion euros.

This makes it one of the largest commercial enterprises in Germany.

In addition, BMW * is one of the 15 largest car manufacturers in the world.

13th place: Werner Baumann (Bayer)


© Oliver Berg / dpa

Werner Baumann has been CEO of Bayer AG since May 1, 2016.

He was therefore responsible for Bayer's controversial takeover of the US seed specialist Monsanto.

For this reason, the Naturschutzbund Deutschland awarded him the negative Dinosaur of the Year award in December 2016.

Bayer - not only known for Monsanto, but also from football


© Oliver Berg / dpa

For his post he received 5.30 million euros in 2020 (2019: 5.46).

In addition to him, there are around 99,500 employees in the listed chemical and pharmaceutical company.

In 2020, the Group's sales, which is made up of the Pharmaceuticals, Consumer Health and Crop Science sectors, were around 41.4 billion euros.

The name Bayer is also known because of the football team Bayer 04 Leverkusen, from which the company lends its name.

12th place: Dominik vonhaben (Heidelberg Cement)


© Heidelberg Cement

Dominik vonhaben has been a member of the HeidelbergCement Management Board since 2007.

He has been CEO since February 1, 2020.

His predecessor is Bernd Scheifele.

In 2020 the CEOs Heidelberg Cement cost 5.78 million euros (2019: 7.95).

Building materials group made more than 17 billion euros in sales in 2020


© Uwe Anspach / dpa

Heidelberg Cement AG is a building materials group and an international leader in the areas of aggregates and ready-mixed concrete.

The company is number two in cement.

Heidelberg Cement has a total of 53,122 employees.

11th place: Rolf Martin Schmitz (RWE)


© Marcel Kusch / dpa

Rolf Martin Schmitz studied engineering at RWTH Aachen University from 1976 to 1981.

In 1985 he received his doctorate there at the chair for heat transfer and air conditioning technology.

He has been CEO of RWE AG since 2016.

His salary in 2019 was 5.06 million euros, in 2020 it was 5.86 million euros.

From a small power station to an international corporation


© Fabian Strauch / dpa

RWE AG was founded in 1898 as a municipal utility in Essen under the name

Rheinisch-Westfälisches Elektrizitätswerk


Measured in terms of sales, the company was at times the second largest supplier in Germany.

10th place: Theodor Weimer (Deutsche Börse)


© Andreas Arnold / dpa

Theodor Weimer has been at the helm of Deutsche Börse since January 2018.

Before that he was spokesman for the management board of Unicredit Bank AG for a long time.

Weimer started his career in 1988 at McKinsey & Company.

In 2020, his salary was 5.93 million euros a year.

Compared to 2019 ...

Deutsche Börse is listed in the DAX itself


© Boris Roessler / dpa

... that meant a significant plus for Weimer: it was 5.02 million euros.

Deutsche Börse AG is a German stock corporation based in Frankfurt am Main and at the same time one of the largest stock exchange organizations in the world.

The group organizes markets for investors who raise capital and for companies who raise capital.

The company, which is itself listed in the DAX, had a turnover of 2.936 billion euros in 2019.

9th place: Oliver Bäte (Allianz)


© Peter Kneffel / dpa

Oliver Bäte has been CEO of Allianz SE since May 7, 2015.

He took over the post from Michael Diekmann.

After completing his training as a banker, Bäte studied business administration in Cologne and New York and worked for the McKinsey management consultancy for a long time.

Before his appointment to the top, he was a member of the Board of Management of Allianz SE for seven years.

Allianz was founded in 1890


© Andreas Gebert / dpa

The alliance was founded in 1890.

The story began in Berlin as a regional provider of accident and transport insurance.

Today Allianz employs more than 150,000 people and operates as a global insurer and asset manager.

In 2020, sales were 140.5 billion euros, and Bäte's annual salary was 6.39 million euros (2019: 5.95).

8th place: Rolf Buch (Vonovia)


© Marcel Kusch / dpa

Rolf Buch joined Vonovia in 2013 as CEO.

At that time the housing company was still called Deutsche Annington.

He actually wanted to be a factory director.

After studying mechanical engineering and business administration, he began his career in the printing and industrial sectors at Bertelsmann.

Eight years later, Buch was CEO of the Bertelsmann Services Group.

Vonovia owns 400,000 apartments in Germany, Sweden and Austria


© Roland Weihrauch / dpa

Vonovia, based in Bochum, owns more than 400,000 apartments in Germany, Sweden and Austria.

The real estate group Deutsche Annington took over the real estate group Gagfah in 2015 and renamed itself Vonovia.

Vonovia has also been part of the DAX since 2015.

In 2019, the group had sales of 3.092 billion euros.

Buch's annual salary in 2020 was 6.45 million euros (2019: 5.79).

7th place: Johannes Teyssen (Eon)


© Marcel Kusch / dpa

Johannes Teyssen became CEO of E.ON SE on May 1, 2010.

The economist had been a member of the board since 2004. On April 1, 2021, there was a change in staff: Teyssen, who earned an annual salary of 6.93 million euros (2019: 6.41) in 2020, was replaced by Leonhard Birnbaum.

Eon is no longer active in renewable energies


© Rolf Vennenbernd / dpa

The listed E.ON SE, headquartered in Essen, sees itself as an international energy company that focuses on intelligent power grids and customer solutions.

The company is mainly active in the fields of energy networks and energy services.

Eon gave the renewable energies to RWE.

It employs almost 80,000 people and had sales of 48.48 billion euros in 2019.

6th place: Tim Höttges (Telekom)


© Federico Gambarini / dpa

Tim (Timotheus) Höttges joined the group in 2000.

He joined what was then T-Mobile as Managing Director of Finance and Controlling.

Just two years later, he was promoted to Chief Financial Officer.

From the end of 2006 to 2009, Höttges * headed the T-Home division on the Group Board of Management.

Until his appointment as CEO of Deutsche Telekom AG in January 2014, he had been CFO since 2009.

Deutsche Telekom is Europe's largest telecommunications group


© Oliver Berg / dpa

Deutsche Telekom AG is number one in Germany and also Europe's largest telecommunications company.

With a turnover of over 80 billion euros, the group, which was founded in 1995, is also big in business worldwide.

Deutsche Telekom * employs around 210,000 people and had a market value of around 78 billion euros in March 2021.

Höttges' annual salary in 2020 was an impressive 7.26 million euros (2019: 6.13).

5th place: Herbert Diess (Volkswagen)


© Ronny Hartmann / dpa

Herbert Diess * has been Chairman of the Board of Management of Volkswagen AG since April 13, 2018.

The engineer with a doctorate already worked in the automotive industry at BMW.

He came to Munich in 1996 and was appointed to the Board of Management of BMW AG in 2007.

On July 1, 2015, Diess moved to the Board of Management of Volkswagen AG.

Volkswagen is now the largest car manufacturer in the world


© Ole Spata / dpa

Volkswagen was founded in Berlin in 1937 as the "Society for the preparation of the Volkswagen mbH".

Today the head office is in Wolfsburg.

Volkswagenwerk GmbH was converted into an AG as early as 1960.

In the meantime, Volkswagen AG * has matured into the largest automobile manufacturer in the world.

Sales in 2020 were just under 223 billion euros.

Diess earned 7.70 million euros in the same year (2019: 8.40).

4th place: Rice Powell (Fresenius Medical Care)


© Frank Rumpenhorst / dpa

The American Rice Powell has been CEO of Fresenius Medical Care since January 1, 2013 and has been appointed until 2022.

The qualified biologist has worked in various positions in the group since 1997.

Powell was able to look forward to a salary almost twice as high as the previous year in 2020.

Fresenius is the world's largest provider of dialysis machines


© Frank Rumpenhorst / dpa

Fresenius Medical Care AG & Co. KGaA, based in Bad Homburg vor der Höhe, is the world's largest provider of dialysis machines and is benefiting from steadily growing demand.

Because people with kidney failure cannot postpone vital treatment, the company is also getting through the corona crisis on a solid basis *.

Fresenius employs a good 125,000 people worldwide, and in 2020 the group had sales of almost 18 billion euros.

Powell earned 8.26 million euros, a year earlier it was “only” 4.89 million euros.

3rd place: Stefan Oschmann (Merck)


© Arne Dedert / dpa

Stefan Oschmann took over the position of CEO of Merck at the end of April 2016.

Previously, the doctor of veterinary medicine was Deputy Chairman responsible for the strategic direction of the group.

Oschmann started his professional career at an agency of the United Nations.

He came to Merck through the German Chemical Industry Association and the US pharmaceutical company MSD.

Merck was founded in 1668


© Arne Dedert / dpa

Merck KGaA is a German pharmaceutical and chemical company based in Darmstadt.

Merck, which was founded in 1668, manufactures drugs at numerous locations around the world.

The group is also working on genome editing technologies and disease treatment devices.

A good 58,000 employees work for Merck.

In 2019, the company generated sales of 16.2 billion euros in 66 countries.

Oschmann collected 9.27 million euros in 2020 (2019: 10.56).

2nd place: Joe Kaeser (Siemens)


© Matthias Schrader / dpa

Joe Kaeser was CEO of Siemens AG until February 3, 2021.

In the meantime, the business economist from Lower Bavaria has been replaced by Roland Busch.

Before being appointed CEO, Kaeser had been Siemens' CFO since 2006.

After retiring as CEO, he moved to Siemens Energy AG as chairman of the supervisory board.

Siemens is represented in 190 countries


© Soeren Stache / dpa

Siemens is Germany's largest technology group.

Because it is active in many areas such as automation and digitization in industry, mobility solutions for rail and road traffic and medical technology, it is also known as a conglomerate.

Siemens has 125 locations in Germany alone and is represented in 190 countries.

293,000 employees work for the company.

In fiscal year 2020, Siemens made 57 billion euros in sales.

Kaeser earned after (14.25 million euros in 2019) a proud 9.27 million euros in 2020.

1st place: Frank Appel (Deutsche Post)


© Oliver Berg / dpa

Frank Burkhard Bernhard Appel has been a member of the Board of Management of Deutsche Post AG since 2002 and Chairman of the Board of Management since February 2008.

The doctor of chemistry is appointed as CEO until October 2022.

Appel, who was elected to the Adidas Supervisory Board in 2018 and left only a year later, gained his first management experience at McKinsey.

Born in Hamburg, he was the highest-paid CEO of a Dax * company in 2020.

Deutsche Post AG employs more than half a million people


© Federico Gambarini / dpa

The Deutsche Post AG, based in Bonn, emerged in 1995 from the former Deutsche Bundespost authority.

The privatization of the former state-owned company was initiated in 1999 and the company went public in November 2000. Since 2015, Deutsche Post AG has focused on two core businesses: the international logistics business and the postal business in Germany.

In 2020, the group had a turnover of almost 67 billion euros with 572,000 employees.

Appel earned 10.03 million euros as CEO (2019: 9.73).

* is an offer from IPPEN.MEDIA.

Source: merkur

All news articles on 2021-04-01

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