Jerónimo Martins CEO saw his salary climb in 2019. He regained more than two million euros

  • ECO News
  • 20 March 2020

The total received rose 8.8% from the 1.9 million that Pedro Soares dos Santos had received in 2018.

The salary of Jerónimo Martins CEO, Pedro Soares dos Santos, increased last year. The retailer’s boss, who includes the Pingo Doce chain, has returned to the restricted group of managers who earned more than two million euros. Between fixed and variable salaries, Soares dos Santos received 2.07 million euros.

The manager’s fixed salary was fixed at 685 thousand euros last year, according to the report and accounts released this Friday. Divided up over 14 months, the amount is equivalent to around 49 thousand euros per month. To this amount, there is also 1.08 million euros of variable component – allocated and paid in 2019, following the performance evaluation in 2018 – as well as 306,395.81 for the retirement pension plan.

All in all, the fixed salary of Pingo Doce’s leader paid 33% of the manager’s total earnings, with the variable remuneration and the contribution to the PPR paying the remaining 67%. The total of 2.07 million euros represents an increase of 8.8% compared to the 1.9 million that Pedro Soares dos Santos had received in 2018. The average salary of the group’s employees increased by 3% over the same period.

This growth took place in a year in which Jerónimo Martins made 433 million euros, an increase of 7.9% on the previous year. In addition to the CEO, employees also received bonuses thanks to this result.