CEO Christian Klein (left) receives significantly less salary than in the previous year, the outgoing CFO Luka Mucic, on the other hand, receives a high severance payment.
(Photo: dpa)
Dusseldorf The war in the Ukraine and economic uncertainty are making business difficult for SAP – top management is feeling the effects financially: the remuneration for the seven members of the Executive Board for 2022 totaled 18.84 million euros, a drop of 40 percent. Board spokesman Christian Klein received 4.67 million euros as the top earner, 20 percent less than in the previous year.
The software maker missed several targets, such as backlog for cloud contracts. This has a significant impact on the Short Term Incentive (STI). On the other hand, there were no special payments from the previous year, for example for the two new board members Sabine Bendiek and Julia White.
However, the separation from CFO Luka Mucic is expensive for SAP. The software manufacturer will pay the manager a severance payment of 9.6 million euros for the remaining term of his contract until 2026. This emerges from the remuneration report that the group published on Thursday.
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