US News Record remuneration of the big bosses in France in 2021
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The remuneration of the big bosses of the CAC 40 in France reached a summit at 7.9 million euros on average last year, more than 100 times that of their employees, according to a report published Tuesday by the consulting firm to Proxinvest shareholders.
The study notes "a strong increase in median and medium remuneration in all indices (CAC 40 and SBF 120, note). We are of course on historical records," said Jehanne Leroy, director of research ESG (environmental criteria , social and governance) during a vision conference with media.
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firm they are worn by very good posts post -Cavid companies in 2021, on which remuneration elements are indexed.
The average total remuneration of the CAC 40 index bosses increased by 52%, while that of the executive presidents of the SBF 120 index composed of the 120 largest companies listed in France has increased by 22% to reach 4.5 millions of euros.
In both cases, it has been unheard of for fifteen years.
- "Carlos Tavares effect" -
These 2021 figures were obtained by comparison to those of 2019, before the health crisis, and not compared to those of 2020 which is considered as a non -representative year given a certain number of leaders had given up part of their remuneration.
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The increase is also explained by a "Carlos Tavares effect (the director general of the Franco-Italian-American automotive group) Stellantis (Peugeot-Citroën-Fiat ...)", whose total remuneration (fixed, variable, shareholder) reached a record never observed by Proxinvest, at 66.7 million euros (19.15 million euros depending on the company).
"It is the first time in 15 years that a company has had total remuneration greater than 50 million euros", according to the report.
The remuneration of Carlos Tavares had been rejected on April 15 by the shareholders of Stellantis, but this vote was purely advisory in the Netherlands where the company is based, unlike France where such a vote has been binding since 2018.
The difference Between the figures of the car manufacturer and those of Proxinvest is explained by the use of different calculation methods, the sums corresponding to the multi -year remuneration being smoothed over several years by Stellantis.
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To establish its classification, the proxinvest report takes into account all the remuneration elements: fixed, annual bonus, long -term multi -year remuneration, allocation of actions valued on their attribution date, advantages in kind ...
all These elements exploded last year. The average fixed remuneration is up 4.2% and the average annual bonus of 33.6% within the CAC 40, while the value of the attributions of free performance shares reaches its highest History in the SBF 120 with a leap of 39.6%.
- Dispersion of wages -
is also "the first time in eight years that the average remuneration of CAC 40 leaders represents more than 100 times the average employee remuneration", or 369 times the minimum wage in 39 hours, according to The report which detects less compliance with the maximum acceptable maximum remuneration ceiling (5.12 million euros) calculated by Proxinvest.
In all, 29 leaders exceed this ceiling, against 14 in 2020 and 24 in 2019, which should relaunch the debate on the purchasing power of the most modest, also amputated by inflation.
Over the 2014-2021 period, the average remuneration of managers increased by 83.8%, three times faster than that of employees, which increased by 23.9%.
Proxinvest, which issues voting recommendations to shareholders for general meetings, is delighted, however, that, since 2021, all CAC 40 companies have now integrated ESG performance conditions into one of the variable remuneration of the first manager .
In the top 5 best paid leaders are Carlos Tavares (66.7 million euros), Bernard Charlès of the Dassault Systems software group (44.1 million euros, including 40.8 million shareholder remuneration), Daniel Julien of the Teleperformance call center company (19.6 million euros), François-Henri Pinault of the Luxury Kering group (12 million euros) and Paul Hudson of the Sanofi pharmaceutical laboratory (9 million euros ).
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