Siemen’s chief ex­ec­u­tive en­joys salary in­crease

Yorkshire Post - Business - - NEWS / BUSINESS -

Siemens paid its chief ex­ec­u­tive Joe Kaeser a to­tal of 7.82 mil­lion eu­ros ($8.82m) dur­ing its 2018 fi­nan­cial year, the Ger­man en­gi­neer­ing com­pany said in its an­nual re­port on Wed­nes­day, up from 7.65 mil­lion eu­ros a year ear­lier.

The fig­ure takes into ac­count all forms of re­ward, in­clud­ing Mr Kaeser’s fixed salary as well as el­e­ments of stock-based com­pen­sa­tion at their value on the grant date.

The salary in­crease of roughly 160,000 eu­ros comes as Siemens re­ported a de­crease in net profit to 5.81 bil­lion eu­ros dur­ing 2018, a year in which Mr Kaeser un­veiled a new strat­egy to make the trains-to­tur­bines maker more nim­ble and prof­itable. Mr Kaeser has led Siemens since 2013.

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