The remuneration of the head of the supervisory board Alexander Wynaendts is to increase by nine percent to 950,000 euros a year. This emerges from the invitation to the Annual General Meeting on May 17th. With an annual salary of a good 870,000 euros, Wynaendt’s predecessor Paul Achleitner was already the best-endowed chairman of the supervisory board among the 40 companies in the leading index Dax.
The remuneration has remained unchanged for ten years and “no longer meets the requirements (…) that are placed on a supervisory board member in the financial services sector,” the bank explained. To date, the members of the Supervisory Board of Deutsche Bank have received a large part of their remuneration for their work on the numerous committees of the board. That should change. The head of the supervisory board should no longer receive anything additional for chairing committees, the other members only for chairing a committee.
Wynaendt’s deputy Norbert Winkeljohann should benefit the most from this. The former auditor receives 475,000 euros in his function and a further 150,000 euros for chairing the audit committee. In 2022, his remuneration totaled 520,000 euros. In the future, ordinary members of the supervisory board will receive EUR 300,000 per year, previously it was usually EUR 200,000.
Deutsche Bank is in line with the trend: the insurer Allianz, for example, wants to pay its chairman of the board, Michael Diekmann, a fixed fee of 450,000 euros in the future, 200,000 more than before. There are also attendance fees and extra bonuses for membership in committees.