After he came under fire last year for his salary statements, the CEO of TotalEnergies could see his payroll get a boost. The group’s board of directors said on Thursday that it will propose a 10 percent increase in Patrick Pouyanne’s remuneration at the general meeting of shareholders on May 26. The Council will submit a proposal that “It is proposed to increase the compensation and distribution of the productivity share for 2023 by 10% compared to 2022”announced in a group press release convening this general meeting.
It’s about “an increase equivalent to that enjoyed on average by leaders of the general social base in France”justified the group. This revaluation would be associated, on the one hand, with a 10% increase in wages, with a variable part, a fixed compensation of 1.5 million euros without change, and on the other hand, with a 10% increase in the number of performance shares, About this AFP was told by a source at TotalEnergies.
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Almost 6 million euros in salary in 2021
Team leaders receive a 7.5% pay increase and a 15% variable and bonus increase, or nearly 10% on average, the company explains. She added that the budget for the number of performance shares given to non-executive managers is also increased by 10%.
The total compensation for Patrick Pouyanne in 2022 has not yet been published. It increased by 51.7% last year to €5,944,129, an amount that was at the center of controversy in the fall amid a dispute over wages at the group’s refineries. This increase follows a 36.4% drop in his wages in 2020 as a result of wage cuts introduced at the time “deliberate” during the health crisis and a reduction in the variable portion of his salary that year related to group performance. In 2019, a year before the pandemic, it amounted to 6.15 million euros. If a 10 per cent increase is accepted, his salary will rise to 6.54 million euros this year.
I’m tired of this accusation that I “increased myself by 52%” – here’s the real evolution of my remuneration from 2017 – it’s constant except for 2020 because I voluntarily cut my salary and my variable part dropped normally with results from # totalenergies l https://t.co/QdqtVuwuew pic.twitter.com/BYIgxaX4VD — Patrick Pouyanne (@PPouyanne) October 18, 2022
“It is not I who set the compensation, but the Board of Directors of TotalEnergies who sets it, and the shareholders who approve it – it is certainly high, but comparable to my colleagues in the CAC40 and much lower than other European large companies.[ne]c and american[e]With” petrochemical sector, defended the CEO on Twitter.
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