Enlarge image
Big earners:
Linde boss
Steve Angel
received remuneration of 53.4 million euros last year - more than any other Dax boss
Photo: Lino Mirgeler / dpa
Now that all 30 Dax companies in Germany have published information on the remuneration of their CEOs, the ranking of Dax bosses based on total remuneration for 2020 has to be rewritten.
Because the stragglers Delivery Hero and Linde stand out far from what was already known from the 28 other Dax companies.
As the consulting firm HKP has analyzed based on 29 annual reports and an IFRS statement (from Linde),
Steve Angel
, CEO of Linde,
takes
the top position among Dax bosses with a total remuneration of 53.4 million euros for the past year.
He is followed by
Niklas Östberg
(41), who has a total remuneration of 45.7 million euros.
Enlarge image
New big earner in the Dax:
Delivery Hero boss
Niklas Östberg
Photo: Delivery Hero / dpa
With this compensation, Angel and Östberg are not only far above all other heads of Dax companies in the past year.
For comparison: In third place in the ranking is the previous leader, Deutsche Post CEO
Frank Appel
(59), with ten million euros.
In addition, the remuneration of the two top earners also exceeds everything that was previously customary in terms of payment in the Dax, according to HKP.
The update also leads to a completely different picture of the average values.
At the status of 28 published DAX annual reports, the executive salaries had dropped by 28 percent to an average of 5.3 million euros.
With all 30 companies, however, according to HKP, there is an increase of 14.6 percent to an average value of 8.5 million euros.
In the previous year, the average amount was 7.4 million euros.
The analysis by HKP also takes into account retirement benefits and fringe benefits, such as company cars or insurance.
There are various studies with different calculation methods on executive board remuneration.
The results sometimes differ significantly from one another.
According to the study, other top earners were Siemens CEO
Joe Kaeser
(63)
, who retired this year,
with 9.3 million euros.
At the lower end of the Dax ranking was the resigned CEO of the Hamburg consumer goods and cosmetics manufacturer Beiersdorf,
Stefan De Loecker
(53), with 2.1 million euros.
The SAP short-term boss
Jennifer Morgan
(50)
also received a big check
: the software giant paid her 15 million euros in severance payments after a good six months in office because her contract as co-chief executive would have run until 2025.
Teamviewer boss receives 71 million euros
Enlarge image
Oliver Steil received
more than 71 million euros last year, most of it in shares
Photo: dpa picture alliance / Andreas Arnold / picture alliance / dpa
The highest remuneration among German top managers last year was again not a Dax 30 boss. Teamviewer boss
Oliver Steil received
more than 71 million euros for 2020 according to the annual report (p. 56 ff). His employer estimated a fixed salary of just 900,000 euros plus bonuses. Steil received the lion's share of more than 70 million euros from major shareholder Permira for the Swabian software company's successful IPO in 2019. In December, the Teamviewer boss was allocated more than 1.765 million shares at a price of just under 40 euros. Steil received around 41.3 million euros in the previous year. The manager earned more than any other German DAX manager in 2019.
And at the end of this year, the Teamviewer boss could again hang out all Dax bosses.
In the fourth quarter of 2021, a second share allocation of the same amount is due, according to the annual report (p. 59)
rei, cr / dpa-afx