Campus
Managers’ salaries frozen
Suggested salaries and upper limits, as well as the sums actually paid into the bank accounts of leading managers and published by seven DAX-listed companies are already now best practice for German Corporate Governance code and will be laid down in future for all stock-market listed companies. The total average remuneration of a CEO of a DAX-listed group dropped in 2013 by 1.4% to 5.97 million. The data was published by consultancy company Hofstettler, Kramarsch & Partner (HKP). While Lufthansa CEO Christoph Franz took a 15% pay cut in 2013 to 1.8 million Euros, the Chairman of Volkswagen’s Board of Directors, Martin Winterkorn, was paid more than 13 million Euros.
Company |
Name |
2012 |
2013 |
Variation (%) |
adidas |
Hainer |
4,18 |
3,85 |
-8 |
Allianz |
Diekmann |
5,77 |
6,02 |
4 |
BASF |
Bock |
5,57 |
5,28 |
-5 |
Bayer |
Dekkers |
5,03 |
4,79 |
-5 |
Beiersdorf |
Heidenreich |
|
4,25 |
|
BMW |
Reithofer |
6,51 |
6,91 |
6 |
Commerzbank |
Blessing |
1,31 |
1,31 |
0 |
Continental |
Degenhart |
2,91 |
4,03 |
38 |
Daimler |
Zetsche |
8,12 |
8,25 |
1 |
Deutsche Bank Ø |
Fitschen und Jain |
|
7,47 |
|
Deutsche Börse |
Francioni |
3,43 |
3,48 |
2 |
Deutsche Lufthansa |
Franz |
2,12 |
1,81 |
-15 |
Deutsche Post |
Appel |
5,42 |
5,59 |
3 |
Deutsche Telekom |
Obermann |
4,11 |
3,91 |
-5 |
E.ON |
Teyssen |
5,81 |
5,51 |
-5 |
Fresenius |
Schneider |
3,44 |
4,07 |
18 |
Fresenius Medical Care |
Powell |
|
2,34 |
|
HeidelbergCement |
Scheifele |
4,28 |
4,29 |
0 |
Henkel |
Rorsted |
6,64 |
6,73 |
1 |
Infineon |
Ploss |
|
1,82 |
|
K+S |
Steiner |
2,33 |
2,11 |
-9 |
LANXESS |
Heitmann |
3,72 |
2,27 |
-39 |
Linde |
Reitzle |
6,89 |
6,89 |
0 |
Merck |
Kley |
5,52 |
7,28 |
32 |
Münchener Rück |
Von Bomhard |
4,31 |
4,21 |
-2 |
RWE |
Terium |
|
4,43 |
|
SAP |
McDermott |
7,01 |
7,03 |
0 |
Siemens |
Kaeser (dal 01.08.) |
|
4,22 |
|
ThyssenKrupp |
Hiesinger |
3,82 |
4,88 |
28 |
Volkswagen |
Winterkorn |
12,8 |
13,2 |
3 |
Interest in the German Mittelstand, above all in Europe and North America
Investors from outside Europe or the United States take little interest in the German Mittelstand as emerges from a survey conducted by the Cometis consultancy company and Ipreo, the British information provider. Approximately one quarter of the quotas in German SMEs listed in SDax, MDax and TecDax are held by German institutional investors. A little under half of participation investment comes from the rest of Europe, in particular from Great Britain, and more than a quarter is in the hands of North American investors. Asian shareholders possess a mere two percent in MDax listed concerns and one percent in those listed in SDax. With its 4.8 million dollars invested in companies in all three listings the Norges Bank Investment Management, a subsidiary of the Norwegian Central Bank, sits at the top of the list.