When talking about manager salaries in Germany, those in the spotlight are usually in the spotlight, whose salary packages break through the sound barrier of ten million euros. In 2024 – at least according to the calculations of the German Protection Association for the ownership of securities – that was exactly two: Oliver Blume in his double position as Volkswagen – and at the same time Porsche boss, a total of 10.6 million euros. And Adidas manager Bjørn Gulden came to 10.3 million euros. The fact that VW-Lenker flower is at the top of the list is surprised in several ways. “Performance should be worthwhile” it says to justify high manager salaries. At least if you take the share price as a yardstick, the performance was rather poor: In any case, the year 2024 was not a good year: the share price of Volkswagen has dropped. As in the previous years 2023 and 2022. In order to consent to such high salaries at the general meeting, flower and other managers do not need to worry, because the voting rights are in their hands less large shareholders, including the state of Lower Saxony and the families Porsche and Piëch. has launched the greatest job cuts for decades. With a view of the manager salaries, however, a completely different annoyance catches the eye: the difficult comparability of the salary information in the various remuneration reports. These documentaries are kept long and very detailed, but the information provided is hardly comparable. For the small print, even experts cannot really put the numbers in relation, let alone explain the lay in an understandable way. Behind terms such as “granted”, “gained” and “granted and owed” remuneration can be huge differences. The problem was much better solved than today: The German Code Commission had exemplary transparency a few years ago with its sample tables. Unfortunately, these tables were abolished with the argument that there were new guidelines from the EU. Whatever it is: the result is poor. More on the subject
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