The total compensation of the president and CEO of TotalEnergies, Patrick Pouyanné, increased by 23.33% in 2022 compared to 2021, reaching 7.33 million euros, more than before the Covid-19 pandemic, according to a document financial published this Friday.
In 2022, the total annual remuneration of the manager amounted to 7,331,079 euros, an increase of 1,386,950 euros compared to 2021, according to the elements communicated in the group’s universal registration document.
In 2019, the year before the pandemic, it amounted to 6.15 million euros. In detail, the CEO sees his fixed and variable remuneration, as well as his benefits in kind, increase by a total of 9.6%, up to 4.35 million euros in 2022.
This is an increase “equivalent to that benefited on average by managers of the common social base in France (+9.8%),” explains the group in this document intended for shareholders, investors and financial analysts.
In the remuneration, a fixed base salary of 1.55 million euros (+10.71%) and a variable remuneration of 2.73 million euros (+9.01%) stand out.
100,000 shares granted
The increase is mainly due to the allocation of a larger number of performance shares, 100,000 in 2022 versus 90,000 in 2021, “to be more in [conformité] with the levels practiced by the markets”.
For 2022, the valuation of these shares – calculated in part on the basis of a listing price of 37.22 euros – amounts to 2.98 million euros (1.97 million euros in 2021), that is, an increase of 50.93%.
These components of the remuneration -fixed, variable and number of shares for performance- will be submitted to the approval of the ordinary general meeting of shareholders called on May 26.
At the proposal of the board of directors, shareholders will also have to vote on a motion that foresees a 10% increase in 2023 in the total compensation of the CEO.
The head of the multinational oil company had been criticized last year for his statements about increasing his salary by 51.7% in 2021 to 5.94 million euros, an amount that is at the center of the controversy this fall. , amid a wage dispute at the group’s refineries.
This increase followed a 36.4% drop in his compensation in 2020, the result of a salary cut then presented as “voluntary” during the health crisis and the decrease in the variable part of his salary that year linked to the results of the group .
Source: BFM TV
