Sonae’s management salaries increase 10%
The Portuguese company has increased the expenses with remunerations. Cláudia Azevedo, the new CEO, earned just over 812 thousand euros.
In a year of administration transition, Sonae saw its executive committee remuneration increase 9.3% in 2019, with the CEO Cláudia Azevedo earning over 812 thousand euros.
Paulo Azevedo left his position as CEO of the company after Cláudia Azevedo was elected at a shareholders’ meeting to replace her brother on May 8th of last year.
According to the Corporate Governance Report, Sonae spent 1.5 million euros on salaries and other variable remuneration with the Executive Committee last year. Cláudia Azevedo received 715.6 thousand euros as CEO – to which 96 thousand euros are added for working in another company of the group. Total: 812 thousand euros.
Meanwhile, in March of this year, Cláudia Azevedo earned 186,000 euros of the 2016 performance bonus – she expects to receive until 2022 around 526,000 euros in performance bonuses from previous years.
The brother Paulo Azevedo received 208,800 euros as CEO, a position he held for about four months. He also received 214,000 euros as chairman and a further 193,000 euros of the 2015 performance bonus (paid in March 2019). Total: 615 thousand Euros.
Regarding the performance bonuses for previous years, Paulo Azevedo has already earned 213 thousand euros in March of this year.
The remuneration in Sonae’s Board of Directors amounted to a total of 644 thousand euros.
