Siemen’s chief executive enjoys salary increase
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.